Scotland’s devolved government prom-ises that full independence would not see it increase the tax burden on the oil and gas sector. But ahead of an independence referendum on 19 September next year, the industry is unconvinced. A government report published on 26 November reiterates its promises that there will be no overall increase in the tax burden on the industry in the event of independence and that the authorities will consult with the industry on tax changes. It also promises a three percentage point cut in the corporation tax rate. And it proposes setting up a sovereign wealth fund based on oil and gas fiscal revenues.
展开▼
