North Sea Taskforce Urges Windfall Tax Replacement Before 2030 ...0

The UK government needs to replace the current windfall tax on North Sea oil and gas operations as soon as practically possible and not wait until the sunset clause of the tax regime expires in 2030, says the North Sea Transition Taskforce, backed by the British Chambers of Commerce. The UK’s Energy Profits Levy (EPL), as the windfall tax is officially known, will remain in place until 2030, the government said early this month as it launched a consultation on what type of tax regime should come next. Since the tax was initially introduced…

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