Global Oil & Gas Tax Newsletter July 2011
Views from around the world
We are pleased to announce the 2nd edition of our new Global Oil & Gas Tax Newsletter focused on technical developments in various jurisdictions around the world. Brazil is featured in this edition, plus hot topics from around the globe.
The feature article, “Brazil: Potential tax impacts of the PSA model,” addresses the potential tax impacts of the production sharing agreement (“PSA”) model, a regulatory framework newly introduced by the Brazilian Government to control pre-salt blocks. The introduction of this new regulatory framework poses important and complex questions for oil & gas companies operating in Brazil, particularly with regard to the tax implications. The attached newsletter discusses a number of such questions and the challenges for multinational oil & gas companies.
In addition, the newsletter contains additional views from around the globe regarding new oil & gas tax developments, including:
- Australia introduces a carbon tax and confirms acceptance of recommendations in relation to the previously proposed extension of PRRT;
- Indonesia passes long-awaited regulations on recoverable operating costs and income tax treatment in the upstream oil & gas industry;
- Russia approves two new initiatives leading to potential changes in the Mineral Extraction Taxation regime;
- and United Kingdom announces a major shift in the tax burden from the motorist to oil & gas exploration and production companies.
Learn more by downloading the full report below.