Rate for:

Interest rate for the carryforward of deficits and surplus tax-free income


Established by the Ministry of Finance on 26 January 2018 pursuant to Section 16 of Regulation No. 316 of 30 April 1993 on the taxation of income earned through the extraction and pipeline transport of petroleum.

Pursuant to Section 16 of Regulation No. 316 of 30 April 1993 on the taxation of income earned through the extraction and pipeline transport of petroleum, an interest rate must be established for use in the carryforward of deficits and surplus tax-free income under Section 3 (c) second paragraph first point and Section 5 sixth paragraph second point of the Petroleum Tax Act. The interest rate is based on the interest rate for treasury bills with a term of 12 months, plus 0.5 percent and adjusted downwards by 24 percent.

The interest rate can therefore be calculated at 0.7 percent [(0.42 + 0.5) * (1-0.24)].

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