Saturday, April 19th, 2014
Today's weather     
Draft of hydrocarbon-extraction tax law complete

4th March 2013
Bookmark and Share


Poland's Ministry of Finance has completed a draft law on a 40 percent tax on companies' oil and gas extraction proceeds. Last week the draft was sent to other ministries for consultation. “The draft is in line with assumptions made by the government,” Deputy Finance Minister Maciej Grabowski said.

Total taxation will amount to 40 percent and will consist of several components. One of them will be a royalty tax, the value of which will depend on the type of extraction. There will be a 6 percent royalty on conventional oil extraction, 3 percent on conventional natural gas and on non-conventional (shale) oil, and 1.5 percent on non-conventional gas. The ministry wants the new law to come into force in 2015.

Poland A.M.


From Warsaw Business Journal


Advertisement
The business of politics
Poland’s PM owes Putin one
BY Remi Adekoya
A few months ago, Civic Platform (PO), Poland’s ruling party, looked sure to lose the upcoming European Parliamentary elections in May. Poll ... READ MORE
From the editor
A day full of possibilities
BY Andrew Kureth
My favorite cartoon ever drawn is the final strip of the iconic “Calvin and Hobbes” series, by fellow Kenyon College alumnus ... READ MORE
Our partners