Petroleum Profits Tax: An Alternative Proposal

Chris Rowland and Danny Hann
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Chris Rowland: BZW Securities
Danny Hann: Central Electricity Generating Board

Chapter 5 in The Economics of North Sea Oil Taxation, 1987, pp 104-115 from Palgrave Macmillan

Abstract: Abstract Before we can finally condemn the present tax system we must introduce an alternative that has less of an impact on development decisions but which still satisfies government revenue requirements. Analysis of the Institute for Fiscal Studies (IFS) proposals1 (below) suggests that these recommendations represent such an alternative where the costs of invention, legislation and publication can be kept to a minimum. Clearly, however, the IFS proposals were not seen to be an obvious improvement to all since they were not implemented when first published at the end of 1981.2 By asking why they were not implemented,3 though, the false perceptions and the remaining costs that prohibit its implementation can be ascertained. This we do in the next chapter; our purpose here is to establish the merits of the IFS proposals.

Keywords: Alternative Proposal; Economic Rent; Recoverable Reserve; Wasteful Capital (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-08717-4_5

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