Poland Moves to Make Shale Gas Extraction Tax-Free by 2020

World | March 12, 2014, Wednesday // 12:25| Views: 1255 | Comments: 0
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Bulgaria: Poland Moves to Make Shale Gas Extraction Tax-Free by 2020 Polish Prime Minister Donald Tusk, photo by EPA/BGNES

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.

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Tags: shale gas exploration, shale gas, Poland, Donald Tusk, gas supplies, energy dependence
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