Corporate tax free for 8 years I suspect means corporate tax free for 8 years. PSC is not a tax, literally it is a petroleum sharing contract which we assume is around 27% to Cuba, which in itself is not high.
When the corporate tax starts in 8 yrs that will be offset by the ATO. Do you suggest the PSC is a tax and therefore the ATO will offset that? I think not.
Ann: Alameda 1 Independent Resources Assessment (Alameda Res), page-109
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