UK Cuts Gas Development Taxes To Spur Fracking Projects

Law360, New York (July 19, 2013, 4:34 PM ET) -- The U.K. issued a proposal Friday slashing shale gas production income taxes from 62 percent to 30 percent in a bid to lure more energy producers to the country, this after lifting a ban on hydraulic fracturing late last year.

The new tax policy is designed to be the most generous for shale in the world, according to Chancellor of the Exchequer George Osborne. The country is poised for a boost in shale gas development, as a government report published last month found double the amount...
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