Malaysian Tax Incentives to Encourage Marginal Oil Field Development

On Mar 29, 2013, the Malaysian tax authority enacted three incentives to help develop smaller oil fields. The incentives apply retroactively from Nov 30, 2010. The incentives are: 1. Petroleum (Income Tax) (Accelerated Capital Allowances) (Marginal Field) Rules 2013 (PU. (A) 119], 2. Petroleum (Inco...

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Bibliographic Details
Published in:Journal of International Taxation 2013-07, Vol.24 (7), p.12
Main Authors: Finnerty, Chris, Hongo, Jeff, Parsch, Kazuyo, Yap, Bee Khun, Khoon, Lee Hock, Wong, Julian
Format: Article
Language:English
Subjects:
Capital expenditures
Enhanced oil recovery
Income taxes
Oil exploration
Tax incentives
Tax rates
Tax services
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Summary:On Mar 29, 2013, the Malaysian tax authority enacted three incentives to help develop smaller oil fields. The incentives apply retroactively from Nov 30, 2010. The incentives are: 1. Petroleum (Income Tax) (Accelerated Capital Allowances) (Marginal Field) Rules 2013 (PU. (A) 119], 2. Petroleum (Income Tax) (Investment Allowances) Regulations 2013 (P.U. (A) 120], and 3. Petroleum (Income Tax) (Exemption) Order 2013 (PU. (A) 122].
ISSN:1049-6378