Tax loophole closes for UK drillers

A 20-year corporate tax holiday for drilling companies in the British North Sea will come to an end under new reforms.

Tax loophole closes for UK drillers Tax loophole closes for UK drillers Tax loophole closes for UK drillers Tax loophole closes for UK drillers Tax loophole closes for UK drillers

UK Finance Minister George Osborne announced plans in March to can the amount a British company could deduct for leasing drilling rigs from an overseas unit in the same group, according to Reuters.

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