Redesigning petroleum taxation: aligning government and investors in the UK
Since its inception some 40 years ago, petroleum-specific taxation in the UK has been subject to numerous modifications. Often these modifications were brought into place not only to sufficiently incentivise the investors but also to capture a fair share for the government. However, it is evident fr...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Abingdon, Oxon
Routledge
2019
|
| Schriftenreihe: | Routledge explorations in environmental economics
Routledge explorations in environmental economics 52 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Since its inception some 40 years ago, petroleum-specific taxation in the UK has been subject to numerous modifications. Often these modifications were brought into place not only to sufficiently incentivise the investors but also to capture a fair share for the government. However, it is evident from the frequency of changes that finding the right balance between these two aims is no easy matter. Such a balance, and the consequent fiscal stability, is necessary for the long-term relationship between the parties to endure to their mutual benefit. Still, it does not take much for one or other party to feel that they are out of balance. As a consequence, one party feels that the other party is taking an undue proportion of the value generated and that they are losing out. Yet achieving that balance and fiscal stability is possible. To understand this possibility, this book first clarifies what is meant by sufficient incentivisation and fair share before developing a new fiscal system that manages this balance and stability. Such clarification yields objective criteria against which to assess not only the existing regime, but also the newly proposed regime. This approach is further complemented by the critical analysis of the fiscal legislative framework and the evaluation of the legal positions of specific contractual elements and mechanisms found within that framework. This latter analysis is important in order to reduce the legal uncertainty such elements may create, which can otherwise lead to further reactive amendments and revisions to the fiscal regime in the future |
| Beschreibung: | 1 online resource (xviii, 178 pages) |
| ISBN: | 9781315414072 1315414074 9781315414096 1315414090 9781315414065 1315414066 9781315414089 1315414082 |
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Such clarification yields objective criteria against which to assess not only the existing regime, but also the newly proposed regime. This approach is further complemented by the critical analysis of the fiscal legislative framework and the evaluation of the legal positions of specific contractual elements and mechanisms found within that framework. 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| illustrated | Not Illustrated |
| index_date | 2024-07-03T15:58:12Z |
| indexdate | 2024-07-10T09:00:07Z |
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| isbn | 9781315414072 1315414074 9781315414096 1315414090 9781315414065 1315414066 9781315414089 1315414082 |
| language | English |
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| publisher | Routledge |
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| series2 | Routledge explorations in environmental economics |
| spelling | Üşenmez, Emre Verfasser aut Redesigning petroleum taxation aligning government and investors in the UK Emre Üsenmez Abingdon, Oxon Routledge 2019 © 2019 1 online resource (xviii, 178 pages) txt rdacontent c rdamedia cr rdacarrier Routledge explorations in environmental economics Routledge explorations in environmental economics 52 Since its inception some 40 years ago, petroleum-specific taxation in the UK has been subject to numerous modifications. Often these modifications were brought into place not only to sufficiently incentivise the investors but also to capture a fair share for the government. However, it is evident from the frequency of changes that finding the right balance between these two aims is no easy matter. Such a balance, and the consequent fiscal stability, is necessary for the long-term relationship between the parties to endure to their mutual benefit. Still, it does not take much for one or other party to feel that they are out of balance. As a consequence, one party feels that the other party is taking an undue proportion of the value generated and that they are losing out. Yet achieving that balance and fiscal stability is possible. To understand this possibility, this book first clarifies what is meant by sufficient incentivisation and fair share before developing a new fiscal system that manages this balance and stability. Such clarification yields objective criteria against which to assess not only the existing regime, but also the newly proposed regime. This approach is further complemented by the critical analysis of the fiscal legislative framework and the evaluation of the legal positions of specific contractual elements and mechanisms found within that framework. This latter analysis is important in order to reduce the legal uncertainty such elements may create, which can otherwise lead to further reactive amendments and revisions to the fiscal regime in the future Petroleum / Taxation / Great Britain https://www.taylorfrancis.com/books/9781315414096 Verlag URL des Erstveroeffentlichers Volltext |
| spellingShingle | Üşenmez, Emre Redesigning petroleum taxation aligning government and investors in the UK Petroleum / Taxation / Great Britain |
| title | Redesigning petroleum taxation aligning government and investors in the UK |
| title_auth | Redesigning petroleum taxation aligning government and investors in the UK |
| title_exact_search | Redesigning petroleum taxation aligning government and investors in the UK |
| title_exact_search_txtP | Redesigning petroleum taxation aligning government and investors in the UK |
| title_full | Redesigning petroleum taxation aligning government and investors in the UK Emre Üsenmez |
| title_fullStr | Redesigning petroleum taxation aligning government and investors in the UK Emre Üsenmez |
| title_full_unstemmed | Redesigning petroleum taxation aligning government and investors in the UK Emre Üsenmez |
| title_short | Redesigning petroleum taxation |
| title_sort | redesigning petroleum taxation aligning government and investors in the uk |
| title_sub | aligning government and investors in the UK |
| topic | Petroleum / Taxation / Great Britain |
| topic_facet | Petroleum / Taxation / Great Britain |
| url | https://www.taylorfrancis.com/books/9781315414096 |
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