The UK has published the Finance Act 2023, which received Royal Assent (was enacted) on 10 January 2023. The Act provides for the implementation of certain measures that were announced as part of the Autumn Statement 2022. The measures include:
- The Energy Profits Levy (EPL) is extended to help fund cost of living support and ensure oil and gas companies pay their fair share of tax:
- the rate of tax applied to the profits of oil and gas companies is increased from 25% to 35% with effect from …