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Global Oil & Gas Tax Newsletter July 2011


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Views from around the world

July 2011

 

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. 

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