North Sea Oil: Shetland
(asked on 8th March 2023) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an estimate of the potential change in tax revenues arising from the Energy Profits Levy investment allowance for the development the Rosebank oil field.
This question was answered on 13th March 2023
The Office for Budget Responsibility’s (OBR) forecast of tax revenues from Energy Profits Levy was presented at Autumn Statement 2022. An update will be published alongside Spring Budget 2023 on Wednesday, 15 March.
The forecast takes into account the effect of the investment allowance but does not give a breakdown by field or company to protect taxpayer confidentiality.