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UK Fiscal Regime - How will the Increase in Supplementary Charges Affect Investment Attractiveness of the Country?
GlobalData, April 2011, Pages: 7
UK Fiscal Regime - How will the Increase in Supplementary Charges Affect Investment Attractiveness of the Country?
Summary
Applicable March 24, 2011 onwards, the government in the UK increased supplementary charges on oil and gas production profits from 20% to 32% for oil and gas companies. According to the GlobalData estimates, the hike is likely to increase government take from 50% to 62%. The oil and gas companies operating in the UK or the UK Continental Shelf (UKCS) are concerned as they see this move to be sudden and the fiscal regime to be uncertain for investment decisions. Some of the companies have already started reassessing their development plans in the region as they expect that some of those plans may turn out to be uneconomic. However, the government is of the view that the investment decisions of the companies will not be affected. What remains to be seen is how many companies shift their investments to some other regions because they do not see investing in the UK or the UKCS as viable option anymore, and whether the government will take any steps to still keep fiscal regime less stringent.
Scope
- Analyses how will the increase in supplementary charges affect investment attractiveness of UK, Provides Information in Change in Fiscal Regime March 24, 2011 onwards, the sudden reaction from the companies, Analyses the changes UK's government take among its peers
Reasons to buy
- Stay informed about the changes in the UK fiscal regime, Analyse and understand how the increase in supplementary charges is going to affect the investment attractiveness of the country, Be updated on the recent moves of the companies as a response to the increase in tax hike
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