Petroleum Taxation Law definition

Petroleum Taxation Law means the Petroleum Taxation Law, Law no. 15/2009, as amended, supplemented or replaced from time to time;
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Petroleum Taxation Law means the Petroleum Taxation Law, Law no. 15/2009 of 31 December, 2009, as amended, supplemented or replaced from time to time; "Proceeds" means the amount in United States dollars determined by multiplying the Realizable Price by the number of Barrels of Available Crude Oil lifted by a Party; "Production" means the activities involved in the extraction of Petroleum including, without limitation, the running, servicing, maintenance and repair of completed xxxxx, as well as of the equipment, pipelines, systems, facilities and plants completed during Development including all activities related to the planning, scheduling, controlling, measuring, testing, gathering, treating, storing and dispatching of Petroleum from the underlying Reservoir to the designated exporting or lifting locations and furthermore, the Decommissioning of xxxxx, facilities, pipelines and Reservoirs and related activities; "Production Period" has the meaning ascribed to it in Clause 4.6; 7 "Profit Oil" means the balance of Available Crude Oil after the allocation of Royalty Oil and Cost Oil; "Quarter" means a period of three (3) consecutive Months starting with the first day of January, April, July or October of each Year; "Realizable Price" means the price in United States dollars per Barrel determined in accordance with Clause 11; "Relinquished Area" means that portion of the Contract Area that is relinquished pursuant to and in accordance with Clauses 5.1(d) and/or 6; "Reservoir” means a porous and permeable underground formation containing an individual and separate natural accumulation of producible Petroleum that is confined by impermeable rock and/or water barriers and is characterized by a single natural pressure system; "Retained Area" means that portion of the Contract Area that is retained after a relinquishment under Clauses 5.1(d) and/or 6; "Royalty" or "Royalty Oil" means the quantum of Available Crude Oil allocated to the State, based on a percentage calculated as a function of daily production rates as set forth in Clause 10.1(a); "State" means the Democratic Republic of Sao Tome and Principe; "State Entity" means any entity or body which integrates the public administration’s structure of the State or, in any other way, an entity in which the State has a full equity or full interest ownership designated by the State under Clause 8 of this Contract; "Tax" means the tax payable pursuant to the Petroleum Taxation Law; "Unassociated Natural Gas" or “Unassociated Gas” means...
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Examples of Petroleum Taxation Law in a sentence

  • The Contractor shall be subject to Tax on income derived from Petroleum Operations in accordance with the Petroleum Taxation Law.

  • Tax payments shall be calculated and remitted in accordance with the Petroleum Taxation Law.

  • Such Tax shall be payable by the Contractor in accordance with the Petroleum Taxation Law, except as otherwise provided in this Contract.

  • Such amounts shall be computed in the manner set forth in the Petroleum Law, the Petroleum Taxation Law and the provisions hereof as stated in Article 4 of this Schedule 2.

  • The Parties agree that the commercial terms and conditions of this Contract have been negotiated and agreed having due regard to the existing fiscal terms in accordance with the provisions of the Petroleum Law and the Petroleum Taxation Law in force at the time of the Effective Date.

  • Contrary to the principle of rule of law that laws must be prospective and not retroactive, the Petroleum Taxation Law was made retroactive by about a year, and worse, made in the name of the military junta at a time when the Constitution was in effect.

  • Unless otherwise defined herein, capitalized terms used herein shall have the meanings assigned to such terms in the Contract or as defined in the Petroleum Law or the Petroleum Taxation Law.

  • For purposes of application of the tax benefits foreseen in Article 35 of the Petroleum Taxation Law, taxpayers must submit an exemption request with the following elements: (i) identification of the importer, (ii) legal grounds of the exemption, (iii) quantity and value of the goods to be imported, (iv) calculation of the customs duties/charges, (v) copy of the invoices, and (vi) any other relevant documents.

  • Such amounts shall be computed in the manner 55 set forth in the Petroleum Law, the Petroleum Taxation Law and the provisions hereof as stated in Article 4 of this Schedule 2.

  • Such amounts shall be computed in the manner set forth in the Petroleum Law, the Petroleum Taxation Law and the provisions hereof as stated in Article ‎4 of this Schedule 2.

Related to Petroleum Taxation Law

  • Taxation law means the law on taxation in any jurisdiction which applies to the Account or to interest we pay you, for example the Taxes Consolidation Act 1997 as amended and any regulation made under it;

  • Corporation Law means the General Corporation Law of the State of Delaware, as from time to time amended;

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • EU Data Protection Law means (i) prior to 25 May 2018, Directive 95/46/EC of the European Parliament and of the Council on the protection of individuals with regard to the processing of Personal Data and on the free movement of such data ("Directive") and on and after 25 May 2018, Regulation 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of Personal Data and on the free movement of such data (General Data Protection Regulation) ("GDPR"); and (ii) Directive 2002/58/EC concerning the processing of Personal Data and the protection of privacy in the electronic communications sector and applicable national implementations of it (as may be amended, superseded or replaced).

  • Data Protection Law means the applicable legislation protecting the fundamental rights and freedoms of persons and their right to privacy with regard to the processing of Personal Data under the Agreement (and includes, as far as it concerns the relationship between the parties regarding the processing of Personal Data by SAP on behalf of Customer, the GDPR as a minimum standard, irrespective of whether the Personal Data is subject to GDPR or not).

  • Petroleum and Natural Gas Rights means the Vendor’s entire interest in those Petroleum Substances underlying the Lands in the respective formations to the extent that the same are described in Schedule “A” and are granted by the Leases, subject to the Permitted Encumbrances, and includes the interest and right of the Vendor in any lands or leases with which those Petroleum Substances have been pooled or unitized;

  • Building Code Act means the Building Code Act, 1992, S.O. 1992, c.23, as amended;

  • European Data Protection Law means the GDPR and any data protection law of a European Member State and Switzerland, including local legislation implementing the requirements of the GDPR, including subordinate legislation, in each case as amended from time to time;

  • Petroleum refinery means each facility engaged in producing gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, or other products through distillation of petroleum or through redistillation, cracking, extracting, or reforming of unfinished petroleum derivatives.

  • POPI Act means the Protection of Personal Information Act, 4 of 2013;

  • the 1988 Act means the Local Government Finance Act 1988.

  • Taxation means any kind of tax, duty, levy or other charge whether or not similar to any in force at the date of the Franchise Agreement and whether imposed by a local, governmental or other competent authority in the United Kingdom or elsewhere;

  • Union harmonisation legislation means any Union legislation harmonising the conditions for the marketing of products;

  • Tax Legislation means all statutes, statutory instruments, orders, enactments, laws, by-laws, directives and regulations, whether domestic or foreign decrees, providing for or imposing any Tax.

  • Tax Code means the Internal Revenue Code of 1986, as amended.

  • Corporations Regulations means the Corporations Regulations 2001 (Cth).

  • Electricity Act means the Electricity Act, 1998, S.O. 1998, c. 15, Schedule A;

  • 1990 Act means the Town and Country Planning Act 1990;

  • Rail Safety Act means the Rail Safety Act 1998 (WA);

  • common law SPOUSE means two people who have cohabitated as spousal partners for a period of not less than one (1) year.

  • the 1981 Act which means the Compulsory Purchase (Vesting Declarations) Act 1981.

  • Tax Law means the law of any governmental entity or political subdivision thereof relating to any Tax.

  • Mining Act means the Mining Xxx 0000;

  • Occupational Health and Safety Act means the Occupational Health and Safety Act, 1993 (Act No 85 of 1993);

  • EU Data Protection Laws means EU Directive 95/46/EC, as transposed into domestic legislation of each Member State and as amended, replaced or superseded from time to time, including by the GDPR and laws implementing or supplementing the GDPR;

  • the 1985 Act means the Companies Act 1985;