Lithuania To Pass Shale Gas Tax Law

Lithuania will soon approve new legislation to improve tax conditions for companies undertaking shale gas exploration, Lithuania’s Prime Minister, Algirdas Butkevicius, has said.

In a radio interview with LRT, Butkevicius said proposals have been put forward for a three-year tax holiday, until no later than 2020, after which a tax rate of between 12 and 15 percent is proposed.

The new law is intended to secure foreign investment, after talks with Chevron were confirmed to have fallen through.

via Lithuania To Pass Shale Gas Tax Law.