To ask Mr Chancellor of the Exchequer, what estimate he has made of how much proposed simplification of reporting processes for petroleum revenue tax will save oil and gas companies each year.
12 December 2016
The average administrative burden saving to companies in the oil and gas sector from simplifying the reporting process for Petroleum Revenue Tax is estimated at £620,000 per annum.
Further information about the measure can be found in the Tax Information and Impact Note (published 23 November 2016). This is available at: