AUSTRALIAN TAX TREATIES

East Timor Sea Treaty  

TIMOR SEA TREATY BETWEEN THE GOVERNMENT OF EAST TIMOR AND THE GOVERNMENT OF AUSTRALIA  

ARTICLE 4   Sharing of petroleum production  

(a) Australia and East Timor shall have title to all petroleum produced in the JPDA. Of the petroleum produced in the JPDA, ninety (90) percent shall belong to East Timor and ten (10) percent shall belong to Australia.


(b) To the extent that fees referred to in Article 6(b)(vi) and other income are inadequate to cover the expenditure of the Designated Authority in relation to this Treaty, that expenditure shall be borne in the same proportion as set out in paragraph (a).




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.