Private oil and gas producers face tax hikes amid growing needs for government revenues

Aug. 06, 2014 13:44
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Employees work by a gas drilling rig on the biggest Ukrainian gas extraction site, near Poltava, eastern Ukraine, on June 27, 2014.
Photo by AFP

Changes to the budget law and tax code that President Petro Poroshenko signed on Aug. 1 hikes duties for domestic oil and gas extractors, among other measures that intend to raise an additional $1 billion, of which $791 million would go for the war effort in eastern Ukraine.

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