Current Status of Oil Industry Congressional Tax Reform Legislation

Oil extraction taxation in our country was and remains a subject of special discussion. This article deals with actual problems of the taxation of the entities of an oil sector in the conditions of financial crisis, the sanctions imposed against Russia and the low prices of oil are considered. The object of research are topical issues of the taxation of the oil industry, in particular the mechanism of the taxation of the added income of the oil companies. The main options of tax mechanisms offered by the Ministry of Finance of the Russian Federation and the Ministry of Energy of the Russian Federation are considered and also opinions of heads of the largest oil companies of the Russian Federation of rather operating system of the taxation of the oil industry are analyzed. The special attention is paid to the analysis of the first results of the carried-out tax reform concerning entering of tax maneuver as one of the main mechanisms of financial safety of the state. The main conclusions of research is that receipt of effective result requires system work concerning reform of the taxation of the oil industry, a phased transition from tax maneuver to the taxation of the added income of the oil companies.

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Tax Reform Legislation Signed Into Law

Bruce R Hopkins Nonprofit Counsel ◽

10.1002/npc.30424 ◽

2018 ◽

Vol 35 (2) ◽

pp. 1-3

Keyword(s):

Tax Reform ◽

Reform Legislation

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世界个人所得税的起源发展和现状 - 着眼中国个税改革 (The Origin, Development, and Current Status of the World’s Personal Tax – Looking at the Prospects of China’s Personal Tax Reform)

SSRN Electronic Journal ◽

10.2139/ssrn.3802524 ◽

2021 ◽

Author(s):

Wei Zhang

Keyword(s):

Tax Reform ◽

Current Status ◽

Personal Tax

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TAX REFORM IN THE OIL INDUSTRY

The APPEA Journal ◽

10.1071/aj01040 ◽

2002 ◽

Vol 42 (1) ◽

pp. 639

Author(s):

M. Williamson

Keyword(s):

Federal Government ◽

Tax Reform ◽

Prime Minister ◽

Oil Industry ◽

Project Development ◽

New Developments ◽

Business Executive ◽

Tax Legislation ◽

John Howard

Following the return of the Liberal National Country Party for its second term of office under the Prime Minister, Mr John Howard, the Federal Government established a committee headed by a business executive Mr John Ralph. This Committee produced an extensive report recommending substantial changes to the Australian tax legislation. Following consideration of the report by the Federal Government, substantial amendments were proposed in September and November 1999. Many of these proposals have now been legislated and several remain in the pipeline awaiting Parliament scrutiny.This paper covers the practical aspects of the changes to the tax legislation, along with examination of particular issues associated with new developments in matters such as gas banking. Particular focus has been made on the new Uniform Capital Allowances Provisions and the deductions which will be available to the industry against upstream project development expenditures.

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