Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsAdjustment of term in case of increases in taxes etc
| 23 . Every Petroleum Resources Agreements shall include terms that provide for an adjustment in the Contractors entitlement So a share of the petroleum resource recovered in the event of any law or regulation being enacted or promulgated, as the case may be, imposing taxes, fees or levies on a Contractor's income from any petroleum operation or the share of petroleum resources that the Contractor is entitled to under the Agreement, in addition to the taxes fees or levies that were in force on the date the Petroleum Resources Agreement was entered into. |