Industry association Oil & Gas UK said it was “perplexed” at the changes to taxing drilling rigs and accommodation vessels supplied on bareboat chartering arrangements, “despite evidence [it] could prove damaging to exploration and development activity”.
As expected, Osborne’s 2014 Budget introduced the measures intended to limit the practice of UK-based contractors leasing rigs for use on the UK continental shelf from companies based in tax havens but which are owned by the same parent group.
Under
