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Lithuania To Pass Shale Gas Tax Law

By Lorys Charalambous, Tax-News.com, Cyprus

18 September 2014


Lithuania will soon approve new legislation to improve tax conditions for companies undertaking shale gas exploration, Lithuania's Prime Minister, Algirdas Butkevicius, has said.

In a radio interview with LRT, Butkevicius said proposals have been put forward for a three-year tax holiday, until no later than 2020, after which a tax rate of between 12 and 15 percent is proposed.

The new law is intended to secure foreign investment, after talks with Chevron were confirmed to have fallen through.

TAGS: tax | law | oil and gas | legislation | tax rates | Lithuania

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