Thursday, October 30, 2014

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Poland Announces Draft Hydrocarbon Taxation Bill

Poland’s Ministry of Finance has unveiled a long-awaited taxation scheme for the natural gas and oil extraction.

Industry players will pay an overall taxation rate of 39 percent and from shale deposits and 41.92 percent from conventional deposits.

A proposed legislation direct levies a 1.5-percent and a 3-percent tax on shale and conventional gas exploration respectively,

The finance ministry positioned that new tax system to be competitive with the requirements in other countries, pointing to higher rates in Norway (68 percent) and the UK (62 per cent).

The figures follow of last week’s release of a preliminary draft of new concession regulations and environmental issues by the Ministry of Environment.

Related Reading: Poland: Draft of New Hydrocarbons Bill Finally Released

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