16 September 2008
Tenaga no better off with lifting of windfall levy
The government's decision to lift the windfall tax imposed on independent power producers (IPPs) and to suspend renegotiations of the power purchase agreements (PPAs) appears to have caught Tenaga Nasional Bhd by surprise. "The imposition of windfall profit levy on IPPs is the policy of the government," Tenaga said in a reply to queries by The Edge Financial Daily via email last Friday, on whether it had expected the lifting of the windfall tax and if it viewed the development positively. [The Edge Daily]
http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_63fcd6a4-cb73c03a-1f195fc0-5c5c74b6
19 September 2008
Papua New Guinea Passes LNG Construction Tax Breaks
Papua New Guinea has passed a raft of tax breaks for the ExxonMobil-led US$10 billion liquefied natural gas (LNG) project at an emergency parliamentary sitting, it is reported. Parliament today gave the go ahead in an almost unanimous decision after spending several hours discussing and debating changes to nine tax laws as part of an agreement that is predicted to double the country's GDP, the Australian Associated Press said. [Bernama]
http://www.bernama.com/bernama/v3/news_lite.php?id=360054