57747
Aramco to  Cut Oil Tax to Lure Investors
Aramco to  Cut Oil Tax to Lure Investors

Aramco to Cut Oil Tax to Lure Investors

Aramco to Cut Oil Tax to Lure Investors

Saudi Arabia has promised it will reduce the overall tax rate paid by its national oil company to make its 2018 initial public offering—potentially one of the largest in history—more appealing to investors. “Definitely the fiscal regime will be changed," Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said in a Bloomberg Television interview on Tuesday in Davos, Switzerland. “When you look at the fiscal regime and the taxes, it has to be aligned with other listed companies,” Bloomberg reported. Aramco, as the company is commonly known, currently pays a 20% royalty on its revenue plus 85% tax on income, Nasser said. He declined to say what tax rate the kingdom is considering. Saudi officials say Aramco’s tax rate would not need to be slashed because the company— considered the crown jewel of the country’s economy—is able to make a profit even when oil prices plunge.

Short URL : https://goo.gl/aHLmJw
  1. https://goo.gl/L0Mxx5
  • https://goo.gl/v64rCN
  • https://goo.gl/7X1m6g
  • https://goo.gl/4ZmJXD
  • https://goo.gl/jjKKU4

You can also read ...

Zanganeh: OPEC Members Not Allowed to Pump Above Target
Iran’s Oil Minister Bijan Namdar Zanganeh in a letter told his...
Record Oil Output Does Not End US Import Dependence
In the first week of July, US net imports of petroleum...
Brent slid 30 cents at $75 a barrel.
Oil prices slipped on Monday as concerns about supply...
Chinese Oil Demand Growth to Slow
Oil demand growth in the world’s biggest oil importer—China—is...
Gas to Overtake Oil
Natural gas will account for a major part of energy basket in...
Green Petrochem Units to Be Exempted From Pollution Tax
Petrochemical companies that reduce carbon emissions and are...
Tehran Power Outages Hampering Industries
Frequent power outages in Tehran have adversely affected...
Production From SP  Oil Layer Resumes
Crude production from the oil layer of South Pars in the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus