Since the EPL is specifically a tax on extraction the 78% tax rate would stay. The govt can do little about curbing the opex model though, as they would have to re write the entire tax code for all businesses in the uk to change it.
It’s really no different to making widgets. Taxable income is charged on the profit after operational costs.
Since the EPL is specifically a tax on extraction the 78% tax...
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| Last trade - 15.43pm 03/05/2024 (20 minute delay) ? |
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