Tax reforms: WHo gets a raw deal?
at Wednesday, July 14, 2010
Oil & gas. Given the importance and risk profile of the sector, under the current regime, it is eligible for the following major dispensations: seven-year 100% tax holiday on profits; allowance of 100% deduction of capital expenditure incurred on exploration and drilling in the year these costs were incurred; deduction of unsuccessful exploration costs against profits from the blocks covered by other contracts and taxation of partners independently instead of as an association of persons (AOP).
Read the full article here:
http://www.financialexpress.com/news/Oil---gas-companies-get-a-raw-deal/646019/
