Poland Moves to Make Shale Gas Extraction Tax-Free by 2020
The Polish government has approved draft legislation making the extraction of shale gas tax-free by 2020.
Prime Minister Donald Tusk told journalists Tuesday that the government had adopted decisions aimed at encouraging shale gas exploration by making the activities tax-exempt by 2020.
He specified that the tax rate was expected to not exceed 40% of extraction income after 2020.
Tusk, as cited by The Wall Street Journal, announced that the draft legislation was to reach parliament within two weeks, adding that he was hoping for fast-track procedures due to the strained relations between Russia and Ukraine.
Poland is said to be seeking to reduce its reliance on Russian gas amid escalating tensions in Ukraine.
Poland imports from Russia around 60% of its annual gas consumption of 15 million cubic meters.
- » Ansbach Attacker 'Had Islamist Videos, Addressed IS'
- » Juncker Says Turkey 'In No Position' to be EU Member
- » Suicide Blast Outside Music Festival in Germany Leaves 12 Injured
- » Three-Way Summit to Lay Basis for Supplying Turkmen Gas to Europe
- » Migrants Arrivals by Sea in Europe Top 242,000 so far in 2016 – IOM
- » Some 4,700 People Remanded in Custody in Turkey over Failed Coup Attempt