Russia has rejected special tax concessions to Indian government-owned Oil & Natural Gas Corp's (ONGC) Siberia-focused firm Imperial Energy. India had been pressing for tax concessions to Imperial Energy to make up for the prohibitively high cost of extraction from tight oil assets in Siberia because of bad terrain, cold climate and killer taxes.
Tag: Tax Concessions
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Fin Min clarifies infra definition
Infrastructure will soon have a wider and uniform definition that will encompass some aspects of education and health as well, ensuring asset creation across a number of sectors by making them eligible for various incentives. A panel of secretaries of various ministries is expected to clear the finance ministry's proposal.