UK offers new tax breaks for mature fields

摘要

London—The UK government announced September 7 a new tax break for re-development projects of mature offshore oil and gas fields as part of moves to help extend the life of the North Sea’s ageing oil and gas industry. Under the so-called Brown Field Allowance, the UK Treasury said it would shield up to GBP250 million ($399 million) of income from some existing fields from its Supplementary Charge tax rate charged at 32%.