Our strategy to reduce the petroleum resource rent tax (PRRT) gap focuses on:
- monitoring annual compliance and advance pricing arrangements with key taxpayers and project operators
- identifying and addressing administrative and technical issues with industry, advisers, and government
- providing early guidance to help taxpayers comply with the law
- comparing the PRRT positions of joint venture participants engaged in the same project to obtain assurance of annual returns
- obtaining assurance through reviews and audits.