Tax changes for oil and gas companies in the Dutch North Sea
EnergyBit: Minister of Economic Affairs and Climate Policy proposes tax changes for oil and gas companies in the Dutch North Sea
The Minister of Economic Affairs and Climate Policy (hereinafter: ‘the Minister’) submitted a letter (in Dutch only) to Parliament on 30 May 2018 on the safety (risks) of natural gas production from the ‘small fields’ in the Netherlands in relation to the energy transition.
In this letter, the Minister also announced his intention to change the current conditional investment deduction of 25% (available for State profit share purposes) to a general investment deduction of 40% for new investments in connection with the exploration and production of small natural gas fields in the Dutch part of the North Sea. The Minister expects to submit a bill to Parliament later this year.
We will keep you informed on further developments with regard to these tax changes.
Should you have queries, please contact Waldo Kapoen, Rogier Sterk or your trusted Loyens & Loeff adviser.