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extraction tax News

Russia To Overhaul Taxation Of Oil And Gas Regime

by Tatyana Smolenskaya,, Moscow

Friday, December 8, 2017

Russia's Energy Ministry has announced that changes to the tax treatment of the oil industry will take place, but potentially not until 2019. Read Full Story


IMF Proposes VAT Rate Hike For Russia

by Ulrika Lomas,, Brussels

Friday, July 14, 2017

Russia should hike value-added tax by four percent to 22 percent and lower social security contributions, the International Monetary Fund has proposed. Read Full Story


China Extends Resource Tax Reform

by Mary Swire,, Hong Kong

Wednesday, May 11, 2016

China's Ministry of Finance has announced the extension of ad valorem resource taxes to certain minerals with effect from July 1, 2016. Read Full Story


Russia Considers Hike In Gas Extraction Tax

by Tatiana Smolenskaya,, Moscow

Monday, October 12, 2015

Russia's Parliament is considering a draft bill to increase the mineral extraction tax on gas companies. Read Full Story


Ukraine To Slash Tax On Oil, Gas Industry

by Tatiana Smolenskaya,, Moscow

Tuesday, July 14, 2015

Ukraine's Finance Minister, Natalie Jaresko, has announced plans for a substantial cut in royalties for oil and gas companies. Read Full Story


China Levies Resource Tax On Rare Earths

by Mary Swire,, Hong Kong

Friday, May 1, 2015

China's Ministry of Finance has confirmed the rates of resource tax to be imposed on rare earths, tungsten, and molybdenum production with effect from May 1, 2015, replacing the export quotas and duties that had previously been eliminated in conformity with last year's World Trade Organization ruling. Read Full Story


Canada To Implement 2014 Budget Tax Provisions

by Mike Godfrey,, Washington

Wednesday, October 15, 2014

The Canadian Government has tabled a detailed Notice of Ways and Means Motion to implement tax provisions contained in its 2014 Budget, along with a number of previously unannounced measures. Read Full Story


EC Approves Aggregates Levy Reduction In Northern Ireland

by Amanda Banks,, London

Wednesday, August 13, 2014

The European Commission has found that the UK's reduced aggregates levy for Northern Ireland is compatible with European Union rules on state aid, four years after the credit scheme was suspended in the wake of a European General Court ruling. Read Full Story


Ireland Plans Higher Taxes On Offshore Petroleum

by Jason Gorringe,, London

Tuesday, June 24, 2014

The Irish Government is to hike the top tax rate payable on offshore petroleum exploration and production, to ensure that the State reaps more revenue from future licensees. Read Full Story


Russian President Orders More Tax Breaks For Yamal LNG

by Tatiana Smolenska,, Moscow

Tuesday, November 5, 2013

Russian President Vladimir Putin has called for tax breaks to be extended to more gas deposits that supply the Novatek-controlled liquefied natural gas project in the Yamal peninsula. Read Full Story



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