extraction tax News

Russia To Lower Oil Export Duty In November
by Tatiana Smolenska, Tax-News.com, Moscow
Thursday, October 17, 2013
Russia is considering decreasing the export tax for crude and most oil products, as well as raising the extraction tax rate, while it undertakes a program to incentivize exploration.
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Quarry Industry Slams HMRC On Aggregates Levy
By Amanda Banks, Tax-News.com, London
Monday, August 26, 2013
The British Aggregates Association has branded HM Revenue and Customs "misleading" and "irresponsible", following a recent announcement to the quarry industry about a European Commission investigation into the aggregates levy. Read Full Story

European Commission Investigates UK Aggregates Levy
By Amanda Banks, Tax-News.com, London
Thursday, August 22, 2013
The European Commission has opened an investigation into exemptions and reliefs relating to the UK aggregates levy, which taxes the commercial exploitation of rock, sand and gravel, more than ten years after the British Aggregates Association made a submission to the EC arguing that the levy contained anti-competitive and unlawful State aid. Read Full Story

Russia Confirms Arctic Tax Haven For Oil Projects
By Ulrika Lomas, Tax-News.com, Brussels
Thursday, December 27, 2012
Russia has confirmed details of tax breaks lasting from between five and fifteen years for new oil projects in the Arctic shelf from 2016, including an exemption from export duty and from VAT on the purchase of equipment. Read Full Story

Polish Hydrocarbon Group Warns On New Taxes
By Ulrika Lomas, Tax-News.com, Brussels
Monday, November 19, 2012
The Polish Exploration and Production Industry Organization, which represents hydrocarbon businesses in the country, has warned that proposed new taxes may slow down exploration activities in the country. Read Full Story

Poland Proposes New Oil Tax
by Ulrika Lomas, Tax-News.com, Brussels
Monday, October 22, 2012
As the ongoing exploration of Poland’s shale gas reserves proves to be promising, the Polish government has proposed to introduce a new special tax regime for the oil and gas sector. Read Full Story

Russia Considering Easing Extraction Tax Hike
by Tatiana Smolenskaya, Tax-News.com, Moscow
Thursday, September 13, 2012
Russian authorities are considering delaying steep hikes to the mineral extraction tax for independent gas extraction companies. Read Full Story

Russia To Guarantee Low Taxes On Arctic Oil Projects
by Tatiana Smolenskaya, Tax-News.com, Moscow
Tuesday, April 24, 2012
Russia has reacted to industry lobbying with the announcement of a 'globally competitive' tax regime to facilitate the extraction of substantial oil reserves lying offshore in the Arctic Circle as Russia's onshore deposits decline. Read Full Story

Russia Hints At Higher Gas Company Taxes
by Tatiana Smolenskaya, Tax-News.com, Moscow
Thursday, April 19, 2012
Russian Prime Minister, and President-elect, Vladimir Putin has announced that taxation will be hiked on gas projects to more fairly distribute the tax burden. Read Full Story

Philippines Delays Hike In Mining Taxes
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, March 13, 2012
Following concerted opposition from within the sector, the proposed executive order to increase the Philippine government’s revenues from mining contracts, which was to have been issued by President Benigno Aquino last month, has been delayed. Read Full Story
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