Commentary

A1.721 Recovery of tax relating to continental shelf profits

Administration and compliance

A1.721 Recovery of tax relating to continental shelf profits

Recovery of tax from licence holder

A1.721 Recovery of tax relating to continental shelf profits

The Board have power to require a holder of a licence granted under the Petroleum (Production) Act 1934 to pay any unpaid tax (together with interest) which has been assessed on a non-resident person in respect of profits or gains from activities authorised (or related activities) or rights given by a licence granted under that Act or in respect of chargeable gains from the disposal of such rights1; the unpaid tax and interest is payable within 30 days of a notice served by the Board. The amount which a licence holder is required to pay under such a notice is recoverable from him as if it were tax due by him and he may, in turn, recover the amount paid by him from the person on whom the assessment was made2.

Tax may be recovered from a

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