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Inland Revenue

Tax Policy

PUBLISHED 15 December 2005

Geothermal well expenditure

An issues paper released today invites comment on suggested changes to the law on tax deductibility of drilling expenditure for geothermal wells. The paper, prepared by policy officials, is the first step in a process that may lead to legislation next year. Submissions close on 31 January 2006. For more information see the issues paper, "The tax treatment of expenditure on geothermal wells".