Global Oil & Gas Tax Newsletter

In our June 2016 edition, we continue the theme of our last edition, taking a look the impact that the OECD BEPS project may have on the oil and gas sector, with an overview of the progress of the initiative to date and an article focusing on action 4. We also take a look at the steps being taken by two significant hydrocarbon producer countries (Iran and Mexico) to promote investment in their upstream industries.

In addition, the newsletter contains articles which address oil and gas tax developments in the following countries:

• Nigerian Petroleum Industry Bill: Is the challenge of legislative passage now resolved?
• UK: Recent changes to the tax regime
• Kazakhstan: News on recent developments
• Tanzania: Withholding tax on payments for services

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In our March 2016 edition, the feature article discusses changes in approaches to transfer pricing and the important implications these could have on long-standing industry practice regarding the charging of operator costs to upstream joint ventures.

In addition, the newsletter contains articles which address oil and gas tax developments in the following countries:

• China: Impact of value-added tax reform on production sharing contracts
• Malaysia: Impact of Budget 2016 and the introduction of changes to goods and services tax
• Kenya: Fiscal stability and oil price volatility
• Middle East: The rise of taxation, declining oil price and fiscal balance
• Nigeria: Recent changes in Nigeria’s tax landscape

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