SCHEDULES
SCHEDULE 37Oil taxation: tax-exempt tariffing receipts and assets producing them
Part 4Amendments of other enactments
Finance Act 1999
Qualifying assets
Qualifying assets
12
1
Section 98 of the Finance Act 1999 (c. 16) is amended as follows.
2
After the words “tariff receipts”, in each place where they occur, insert “
, tax-exempt tariffing receipts
”
.
3
After subsection (6) insert—
6A
In relation to tax-exempt tariffing receipts, any reference in this section—
a
to being attributable to a field for a period, or
b
to being referable to an asset,
shall be construed as if tax-exempt tariffing receipts were tariff receipts (and expenditure were or had been allowable accordingly).