Russia is not making the most of its oil assets due to the structure of its
tax regime, said Lord Robertson, deputy chairman of the TNK-BP joint oil
TNK-BP and Russia’s state-controlled oil companies are being hit by rising
costs and higher taxes, he warned.
As 80% of export revenues are taken in taxes when the oil barrel price is
above $27, companies are not seeing the benefit of the high oil price, he said.
Barrel prices are currently over $90.
‘If Russia is going to be able itself, as a country, to extract more from the
ground, then it will have to change that fiscal regime,’ Lord Robertson said in
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group