North Sea Oil Taxation - Has the UK Reached The Tipping Point?
Article from: OGEL 1 (2005), in Taxation
Introduction
For more than two decades the North Sea oil producers have been warning Government that a tax regime which is too heavy and changed too often will endanger investment and output. Yet all along, until very recently both output and investment have held up remarkably well. The Treasury policy-makers are therefore entitled to be a little sceptical each time the industry resurrects these arguments. Yet with renewed talk of North Sea oil taxation changes, not to mention noises from Westminster about windfall taxes on the oil companies, has the UK reached the stage where ...