India Mulls Easing Its Windfall Tax As Oil Prices Fall ...Middle East

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India Mulls Easing Its Windfall Tax As Oil Prices Fall
source : OILPRICE ( Middle East ) () 18
With oil prices falling on recession fears, India is taking another look at its windfall tax on oil companies, anonymous Bloomberg sources close to the matter said on Thursday. The windfall tax, which India implemented on July 1, hit the country's oil producers and refiners who were exporting an increased amount of product due to the high price of crude and refined products. The tax is 23,250 rupees per ton for oil producers ($40 per barrel), and 6 rupees per liter on gasoline and jet fuel. For gasoil exports, the windfall tax is 13 rupees per…

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