UK pledges more reforms after tax tweak

摘要

London-The UK government sought to boost confidence in its upstream tax regime Thurs- day promising new reforms after North Sea producers grumbled at the small size of a cut in headline tax rates this week. Unveiling the results of a “fiscal review” which began in July, the government pledged to phase out a complex system of allowances and support exploration, infrastructure and decom- missioning. The review was prompted by charg- es that after 40 years of production the industry is buckling under the weight of one of the most onerous and complex tax regimes in the world.