Algeria confirms windfall tax

摘要

Algeria's parliament has approved the new law giving national oil company Sonatrach the right to a majority stake in any project and levying a windfall tax in times of high oil prices.The plan to tax 'excess' profits when oil prices average more than US 30/bbl is set to become law next year. From early 2007, profits accrued by firms when prices are above 30 will be taxed at between 5% and 50% depending on total output.