Global Oil & Gas Tax Newsletter - October 2011
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.
This edition's feature article, Iraq: Developing an appropriate tax framework, addresses the tax regime in Iraq as businesses generally are becoming aware of their tax compliance obligations and are seeking guidance as to the action and positions they need to take from a tax perspective.
Additional countries featured in this issue include:
- Australia provides additional guidance concerning the application of the carbon tax and extension of the PRRT regime;
- Indian courts rule on deemed profits tax provisions regarding nonresident service providers to O&G industry;
- Obama Administration re-proposes additional taxes on the O&G industry;
- Russia passes new law on transfer pricing and changes VAT rules for continental shelf;
- Uganda withdraws VAT relief for investment traders and eliminates VAT credit on imported services; and
- British Columbia extinguishes HST and returns to GST & PST.
Learn more by downloading the full report below.