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extraction tax News

Russia To Lower Oil Export Duty In November

by Tatiana Smolenska,, 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,, 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,, 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,, 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,, 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,, 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,, 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,, 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,, 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,, 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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