You will be required to comply with this code if you intend to undertake petroleum exploration, extraction or production in the Joint Petroleum Development Area (JPDA). The code provides the underlying framework for the imposition of taxes on income arising out of exploration, development and exploitation of petroleum in the JPDA.
The JDPA is an area over which both Australia and East Timor claim sovereignty. Australia has title to 10% of the petroleum produced in the JPDA. The code applies Australia's taxation system to 10% of the income derived in the JPDA.
