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Corporate Taxes United Kingdom Oil & Gas

A&O Shearman

UK Introduces Energy Profits Levy on 'Extraordinary Profits' of Oil and Gas Companies

A&O Shearman on

The U.K. Government announced on May 26, 2022 its intention to introduce with immediate effect a temporary Energy Profits Levy (the “Levy”), an additional U.K. Corporation Tax charge at a rate of 25% on the profits of oil and...more

Akin Gump Strauss Hauer & Feld LLP

UK 2015 Budget – Changes to the North Sea Tax Regime

In a move designed to breathe life into the United Kingdom’s North Sea oil and gas industry, the United Kingdom’s Chancellor of the Exchequer has announced a suite of tax cuts as part of the 2015 Budget. The cuts are a...more

K&L Gates LLP

Shale Gas Exploration

K&L Gates LLP on

The UK Government has proposed that the tax rate on certain profits from UK shale gas production should be reduced from 62% to 30%. This will make the UK’s shale gas tax rate among the lowest in the world....more

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