India’s windfall tax on oil companies and refiners, introduced last week, could stay for a very long time, as the government plans to withdraw it only when oil prices drop by $40 per barrel from current levels, Indian Revenue Secretary Tarun Bajaj told Reuters on Monday. India last week introduced a windfall tax on oil producers and refiners who are exporting more due to the high international price of crude oil and refined products.
What’s more, fuel exporters will be required to sell at least some of their product domestically. The…India Will Not Lift Windfall Tax On Oil Firms Until Crude Drops By $40
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