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20 July
2022
IBFD & Industry News
Parliament Enacts 25% Oil and Gas Profits Levy in Fast-Track Procedure
Taxes are about to get a lot more expensive for British oil and gas producers. On 11 July 2022, the House of Commons voted to impose a 25% additional levy on their profits when it enacted the Energy (Oil and Gas) Profits Levy Bill [Bill 135 of 2022-23], under the fast-track procedure.