The HM Treasury has announced that the temporary contingency tax on oil and gas producers will be increased by 10 percent as a move to address the energy crisis. It is known that this increase, which will be implemented as of January 1, 2023, will continue until March 2028. The UK government stated that tax reduction measures will be taken and companies can claim a tax reduction of £91.40 for every £100 deposited, instead of the previous £91.25.
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