Global Oil & Gas Tax Newsletter - January 2012
Global Oil & Gas Tax Newsletter is a quarterly newsletter produced by Deloitte's global tax practice. Each edition showcases tax technical developments in various jurisdictions around the world as they relate to oil & gas companies. Challenges for multinational oil & gas companies also are explored.
Spotlight articles on Eastern Europe discuss the growth in Romania and Ukraine and investment opportunities for multinational oil & gas companies. Other highlights include the recent developments in these countries’ tax laws to attract investors in the exploration of shale gas reserves in the Black Sea. Specific areas discussed include the analysis of production sharing arrangements, VAT, Corporate Income Tax and entity selection.
In addition, the newsletter contains several articles addressing new oil & gas tax developments in countries around the world, including:
- Australia passes carbon regime and issues decisions relating to O&G taxation issues;
- China State Council amends Resource Tax regulations effective 1 November 2011;
- Malaysia amends the Petroleum (Income Tax) Act of 1967;
- Papua New Guinea 2012 Budget contains favorable tax incentives for resource operations;
- Timor-Leste issues new draft public ruling on capital gains within JPDA; and
- U.K. government publishes draft legislation for 2012 Finance Bill.
Learn more by downloading the full report below.