{"id":496470,"date":"2022-06-06T10:48:34","date_gmt":"2022-06-06T05:18:34","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=496470"},"modified":"2022-06-06T10:48:34","modified_gmt":"2022-06-06T05:18:34","slug":"no-plan-to-impose-windfall-tax-on-oil-companies","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/no-plan-to-impose-windfall-tax-on-oil-companies\/","title":{"rendered":"No plan to impose windfall tax on oil companies"},"content":{"rendered":"<p>The government has no plan to impose an additional tax on profits of upstream oil companies, which have benefited from the rise in global oil prices because of the trade-parity pricing they follow, a top government official told FE. The UK and Hungary have recently imposed extra levies on oil companies in the form of the so-called \u201cwindfall tax\u201d, in a bid to generate more fiscal resources, leading to speculation that India may follow suit.<\/p>\n<p>Levying such a \u201cwindfall tax\u201d is inconsistent with the government\u2019s stated policy of having a stable tax regime, the source said. Also, the government would want the oil companies to step up their capital expenditure, rather than pay more taxes, the official added. Analysts reckon that windfall tax will not only dent the stability of the tax regime, but on a net basis may not yield much revenue gain for the government because it will lead to reduced dividend income from state-owned oil companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government has no plan to impose an additional tax on profits of upstream oil companies, which have benefited from the rise in global oil prices because of the trade-parity pricing they follow, a top government official told FE. The UK and Hungary have recently imposed extra levies on oil companies in the form of the so-called \u201cwindfall tax\u201d, in a bid to generate more fiscal resources, leading to speculation that India may follow suit. Levying such a \u201cwindfall tax\u201d is inconsistent with the government\u2019s stated policy of having a stable tax regime, the source said. Also, the government would [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-496470","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/496470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=496470"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/496470\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=496470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=496470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=496470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}