GLOSSARY OF FISCAL TERMS :: SEISMA OIL RESEARCH LLC


	PRODUCTION EXPLORATION GEOLOGICAL	CHEMICAL MEASURES FISCAL

OIL & GAS INVESTMENT CALCULATORS

GLOSSARY FISCAL TERMS


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TERM	DEFINITION
Tariff	Payments made by fields to other fields that provide transportation and / or processing of production.

Tariff Receipt Allowance (TRA)	Participators in owner field share an allowance equivalent to 250,000 tonnes of throughput per chargeable period for each taxable user field.

Value Added Tax (VAT)	Introduced at 8% on UK domestic fuel and power in April 1994.

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