Global Oil & Gas Tax Newsletter - July 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, Brazil: Potential tax impacts of the PSA model, addresses the potential tax impacts of the production sharing agreement 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.
Additional countries featured in this issue include:
- Australia introduces a carbon tax and confirms acceptance of recommendations in relation to the previously proposed extension of Petroleum Resource Rent Tax;
- 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
- U.K. announces a major shift in the tax burden from the motorist to oil & gas exploration and production companies.
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Global Oil & Gas Tax Newsletter - July 2011
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