Our strategies to maintain the petroleum resource rent tax (PRRT) gap focus on:
- monitoring annual compliance and advance pricing arrangements with key taxpayers and project operators
- identifying and addressing administrative and technical issues in collaboration with industry, advisers, and government
- providing early guidance to support taxpayer compliance with the law
- comparing PRRT positions of joint venture participants within the same project to ensure consistency and accuracy in annual returns
- sophisticated data tools to confirm correct PRRT reporting, supported by annual review of the PRRT taxpayers with the highest impact on the system
- conducting audits and reviews to address risk where it is identified.