TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 42: Special Tax Deductions for Mineral Oil Businesses Under Government Agreements, Covering Exploration and Production Costs</h1> Section 42 provides special provisions for deductions related to businesses involved in prospecting, extraction, or production of mineral oil, including petroleum and natural gas, under agreements with the central government. It allows additional allowances beyond standard tax provisions for expenses such as infructuous exploration prior to commercial production, costs related to drilling and exploration activities, and depletion of mineral oil in the mining area. These deductions are contingent upon their specification in the agreement and must be calculated as per the agreement's terms.
TaxTMI 
TaxTMI 
