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11-May-2020

Video: Saudi Arabia triples VAT rate as oil revenues tumble

11-May-2020 by Reuters

Saudi Arabia will triple its value added tax rate and suspend a cost of living allowance for state employees, the kingdom's finance minister says, seeking to shore up finances hit hard by low oil prices and a coronavirus-driven slowdown. more information

08-May-2020

Bulgaria: The country seeks to boost tax controls over Lukoil's Bulgarian unit

08-May-2020 by Hydrocarbon Processing

Bulgaria’s parliament backed bolstering tax controls over the country’s biggest fuels seller, owned by Russia’s Lukoil, as the government looks to boost revenue depleted by the state of emergency over coronavirus. more information

07-May-2020

Brazil: Gasoline tax hike threatens Petrobras refinery revival

07-May-2020 by Argus Media

A standoff between Petrobras and the ethanol sector over a proposed gasoline tax increase risks disrupting the state-controlled company's plans to increase fuel production after a demand slump sent utilization rates to fresh lows in April. more information

USA: California sues gasoline trading companies for price manipulation

07-May-2020 by CSP Daily News

The state of California is suing two multinational gasoline trading companies for allegedly manipulating the spot market for gasoline and artificially increasing pump prices during a major refinery outage. more information

India: The country now has the highest taxes on fuel in the world!

07-May-2020 by Economic Times

That means every litre of petrol in Delhi that currently retails at Rs 71.26 includes taxes of Rs 49.42 while for every litre of diesel at Rs 69.39 it is Rs 48.09. Taxes now comprise over 69 per cent of the pump price of the two fuels. more information

05-May-2020

India: States raise fuel taxes despite slumping demand

05-May-2020 by Argus Media

India's Delhi and Tamil Nadu states have increased taxes on diesel and gasoline in a further blow to the country's oil product demand. more information

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