HMRC are seeking views on possible changes to rules that determine how non-arm's length sales of gas are valued for the purposes of the North Sea fiscal regime.
The gas markets have undergone ‘significant transformations’ since the current rules for valuing gas were introduced more than 15 years ago, HMRC said. The government is considering adopting a ‘price reporting agency-based method’ of valuation.
HMRC are seeking views on possible changes to rules that determine how non-arm's length sales of gas are valued for the purposes of the North Sea fiscal regime.
The gas markets have undergone ‘significant transformations’ since the current rules for valuing gas were introduced more than 15 years ago, HMRC said. The government is considering adopting a ‘price reporting agency-based method’ of valuation.
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")