Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: the total expenditures for petroleum operations made by the contractor both within and without the Philippines as provided in a service contract [Section 3(u), Oil Exploration and Development Act of 1972]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: any liquid hydrocarbon obtained from natural gas by separation or by any chemical or physical process [Section 3(s), Oil Exploration and Development Act of 1972]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: the calendar or fiscal year of the contractor [Section 3(r), Oil Exploration and Development Act of 1972]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: the gross income less the deductions allowed in this Act [Section 3(q), Oil Exploration and Development Act of 1972]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: the gross proceeds from the sale of crude, natural gas or casinghead petroleum spirit produced under the contract and sold during the taxable year at posted or market price, as the case may be, and such other income which are incidental to and arising...
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: a corporation organized under Philippine laws at least sixty percent of the capital of which is owned and held by citizens of the Philippines [Section 3(n), Oil Exploration and Development Act of 1972]
