A meagre 5% tax planned for oil companies that will be paid to local authorities!

Hydrocarbon Research & Exploitation: 5% Tax on Local Authorities

The Ministry of Environment and Energy submitted four draft laws to the House of Representatives yesterday to ratify the same number of leases for the concession of exploration and exploitation of hydrocarbons in four marine areas in Crete and the Ionian Sea.

In these four bills, it is envisaged that companies will have to pay a regional tax of 5%.As stated in the GLK reports, the four Bills bring about “a possible future annual increase in the revenues of the concerned OTAs from the collection of the projected 5% regional tax payable by each Contractor”, with the amount of revenue being “fact-based”.

source – aftodioikisi.gr

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