Extension of surtax to maritime zones targets companies engaged in mineral oil production and related services. Extension of the Companies (Profits) Surtax Act, 1964 applies the surtax to the Continental Shelf and exclusive economic zone, limited to chargeable profits of companies engaged in prospecting for, extraction or production of mineral oils and to companies providing services, facilities or supplying ships, aircraft, machinery or plant in connection with those mineral oil activities; 'mineral oil' includes petroleum and natural gas.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Extension of surtax to maritime zones targets companies engaged in mineral oil production and related services.
Extension of the Companies (Profits) Surtax Act, 1964 applies the surtax to the Continental Shelf and exclusive economic zone, limited to chargeable profits of companies engaged in prospecting for, extraction or production of mineral oils and to companies providing services, facilities or supplying ships, aircraft, machinery or plant in connection with those mineral oil activities; "mineral oil" includes petroleum and natural gas.
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