UK government attempts to allay oil company fears over North Sea taxes

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UK government attempts to allay oil company fears over North Sea taxes

Salman Shaheen
July 05 2011
250px-oil-platformsmall.jpg

The Treasury has announced that the annual rate of the Ring Fence Expenditure Supplement (RFES) for the North Sea will be increased from 6% to 10% in an attempt to appease oil companies angry over higher oil taxes announced in this year’s budget.

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Salman Shaheen
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Salman Shaheen worked at ITR between 2010 and 2017
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