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]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: the allowance which may be given the Contractor with Filipino participation as provided in Section 28 hereof [Section 3(m), Oil Exploration and Development Act of 1972]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: a service contract [Section 3(l), Oil Exploration and Development Act of 1972]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: means the contractor in a service contract whether acting alone or in consortium with others [Section 3(k), Oil Exploration and Development Act of 1972]
Dec 11, 2024 | Category: All, Laws, Presidential Decree
In petroleum: include not only crude oil exported as such but also indigenous crude oil refined in the Philippines for export [Section 3(i), Oil Exploration and Development Act of 1972]
