The Taxation of Petroleum and Minerals

The Taxation of Petroleum and Minerals

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Oil, gas and mineral deposits are a substantial part of the wealth of many countries, not least in developing and emerging market economies. Harnessing some part of that wealth for fiscal purposes is critical for economic development: in few areas of economic life are the returns to good policy so large, or mistakes so costly.Development costs were subject to various tax depreciation allowances. CT is the standard company tax on profits that applies to all companies operating in the UK. However, in the case of petroleum activity, there is a ring fence that prohibits anbsp;...

Title:The Taxation of Petroleum and Minerals
Author:Philip Daniel, Michael Keen, Charles McPherson
Publisher:Routledge - 2010-04-15


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