Draft CCEA note on NELP-X incentivises cos w/tax holiday

Written By Unknown on Senin, 13 Januari 2014 | 20.07

The oil ministry is hoping to attract investments under NELP X via tax holidays. In a draft CCEA note floated in late December, the oil ministry has called for a 10-year tax holiday for ultra deepwater water blocks, and a 7-year tax holiday for all other kinds of blocks be it on land, shall water etc.

The ministry has mooted the tax breaks from the start of production. Besides this the oil ministry has said there should be no Cess levied on crude production.

On Sunday the government had unveiled 46 oil and gas blocks on offer under NELP X, but the final tender, terms and conditions still have to be ratified by the Cabinet.



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