GTL Summary:

This Article, repealed by Royal Decree No. M/70 of 1439H effective from 1 January 2018, previously governed the tax treatment for natural gas investments. It stipulated that the income tax rate, as defined in paragraph (b) of Article 7, was to be applied to the taxpayer's natural gas investment tax base. A crucial provision allowed the taxpayer to deduct the amount of income tax paid on this specific base from the total natural gas investment tax liability. This mechanism functioned as a direct credit, reducing the overall tax burden for entities subject to the natural gas investment tax.