2% royalty not a cost in computing Guyana’s profit oil –Statia

Following much debate about Guyana’s petroleum tax regime and cost recovery, tax chief Godfrey Statia has said that the 2% royalty paid to the government under the 2016 production sharing agreement with ExxonMobil Guyana is not cost in determining the country’s share of profit oil but rather an expense in determining the contractors’ taxable income.

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