The Energy (Oil and Gas) Profits Levy Bill has completed its Commons stages and will be debated in the Lords on 13 July. As it is a money Bill, the convention is that it cannot be amended by the Lords and so is effectively final.
Note that the Bill reflects a number of minor wording changes since its original publication in draft form on 21 June, including the following:
clarification that repayments of petroleum revenue tax arising from decommissioning are left out of account (clause 1(5)(d)); and
revised meaning of ‘avoidance arrangements’ (clause 5(2)).
The Energy (Oil and Gas) Profits Levy Bill has completed its Commons stages and will be debated in the Lords on 13 July. As it is a money Bill, the convention is that it cannot be amended by the Lords and so is effectively final.
Note that the Bill reflects a number of minor wording changes since its original publication in draft form on 21 June, including the following:
clarification that repayments of petroleum revenue tax arising from decommissioning are left out of account (clause 1(5)(d)); and
revised meaning of ‘avoidance arrangements’ (clause 5(2)).
