Global Oil & Gas Tax Newsletter

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Global Oil & Gas Tax Newsletter

Views from around the world

Highlighting tax developments of current interest to companies operating in the oil and gas industry, whether upstream or downstream, and businesses in the oilfield services, engineering and construction industries.

In the December 2016 edition of our Global oil & gas tax newsletter, the final edition for 2016, we continue our in-depth examination of the base erosion and profit shifting (BEPS) initiative with analysis of the Organization for Economic Development’s (OECD) proposals on hybrids, including discussion of the UK’s legislation which will be effective from 1 January 2017 and is the first to be implemented addressing the proposals.

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

  • Brazil: tax deductions for RD&I expenditure
  • Gabon: an overview of the new hydrocarbon regime
  • Malaysia: application of indirect tax to transfers of oil and gas projects in Malaysia
  • Russia: potential changes to upstream taxation

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Global Oil & Gas Tax Newsletter - December 2016

In this September 2016 edition, we unpack some of the potential implications of Brexit on the oil and gas industry. We also take a look at the impact that the OECD BEPS project may have on the oil and gas industry in developing countries, with an overview of the key findings and recommendations of the OECD report and its implications.

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

  • Australia: Game-changing tax reforms impacting oil and gas multinationals
  • Ghana: Recent tax developments in the upstream petroleum sector 
  • Gulf Cooperation Council: Introduction of VAT
  • Indonesia: Developments in the taxation of the upstream industry 
  • Tanzania: New income tax rules for the oil and gas industry 
  • US: Oil and gas tax considerations in today’s pricing environment

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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 January  2014 issue, the feature article discusses Brazilian PIS and Cofins taxes in consortium activities and tax credit challenges those in the oil and gas industry may face.

In addition, the newsletter contains several articles addressing new oil and gas tax developments in the following countries:

  • Australia: Clarity on backlog of unlegislated tax measures and other recent developments
  • Brazil: Customs regime for oil and gas companies changed
  • Russia: The law on encouraging hydrocarbon production on Russia's continental shelf
  • Tanzania: Tax updates
  • United Kingdom: Autumn statement
  • United States: Recent tax court case highlights tax considerations for landowners receiving bonus payments


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Global Oil & Gas Tax Newsletter – January 2014 issue - PDF file - size: 765kb

In our October 2013 issue, the feature article spotlights supply chain and Business Model Optimization in the oil and gas business, including a discussion on substance and tax implications of cross-border transactions.

In addition, the newsletter contains several articles addressing new oil and gas tax developments in the following countries:

  • Australia: Change of federal government and draft guidance on “exploration”
  • Brazil: Recent tax updates
  • Canada: OECD’s BEPS and Canada’s anti-treaty shopping initiatives
  • China: New VAT guidance
  • East Africa: Recent tax updates in Kenya, Mozambique, Tanzania and Uganda
  • Lebanon: Fueling interest in offshore oil and gas exploration

 

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Global Oil & Gas Tax Newsletter - October 2013 issue - PDF file - size: 3.1mb

In our July 2013 issue, the feature article discusses new UK tax incentives extended to Research & Development activities and income derived from intellectual property, as well as how these new incentives may apply to the oil and gas industry. 

In addition, the newsletter contains several articles addressing new oil and gas tax developments in the following countries:

  • Australia: Budget 2013 and other issues;
  • Norway: Reductions in allowable depreciation and applicable tax rates; and
  • Russia: Recent developments. 


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Global Oil & Gas Tax Newsletter - July 2013 issue - PDF file - size: 477kb

In our April 2013 issue, we discuss typical investment structures for entry into China, as well as tax trends in the industry.

In addition, the newsletter contains several articles addressing new oil and gas tax developments in the following countries:

  • Australia: Ongoing reform; 
  • India: Union Budget 2013-14 what it means to the oil and gas sector;
  • Russia: New developments; and 
  • United Kingdom: Budget 2013.


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Global Oil & Gas Tax Newsletter - April 2013 issue - PDF file - size: 1mb

In our January 2013 issue, the feature article concerns U.S. rotational cross-border employees and discusses some of the income tax considerations affecting them and their oil and gas employers.

In addition, the newsletter contains several articles addressing new oil and gas tax developments in the following countries: 

  • Indonesia: Court declares BP Migas unconstitutional; 
  • Kenya: New tax charge on disposals of mining and oil assets;
  • Mozambique: Clarification on taxation of gains and increased burden on M&A;
  • Poland: Recent developments in hydrocarbon taxation; and
  • South Africa: Nascent oil and gas tax rules.

 

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Global Oil & Gas Tax Newsletter - January 2013 issue - PDF file - size: 1.8mb
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