Related Articles
Forward article link
Share PDF with colleagues

Taxing times in the US

A proposed US border levy would lift producers, hit consumers and upend oil markets

American oil executives should probably start brushing up on tax law, some big changes could be on the way. As part of their bid to overhaul the US tax regime, Congressional Republicans and the Trump administration are seriously considering a border adjustment tax (BAT). It would be the most radical shakeup of the US tax code in generations and could have far reaching consequences for US oil company finances, global trade flows and oil prices. Put simply, the BAT is a protectionist measure that would levy imports, at 20% under House leader Paul Ryan's proposal, while making exports tax free. American oil producers would reap a windfall, but it would come at the expense of refiners, and ult

Also in this section
Venezuelan crunch time
17 November 2017
Venezuela faces steep bond payments before the end of the year. It is looking to Russia to help keep it from default
Taking a chance in Kurdish Iraq
16 November 2017
The KRG referendum result and subsequent Iraqi army offensive against the Kurds underline how risky it is for companies involved in the export and sale of Kurdish crude
Iraq—the end of the beginning
16 November 2017
Iraq's army has retaken Kurdish-controlled areas around Kirkuk in the north, while neighbouring states are considering their long-term response to the independence referendum