russian government

The tax structure is designed in a manner that the Russian government retains most of the revenues generated for crude prices above $30 resulting in low revenue for Imperial Energy, which is ONGC Videsh Ltd's wholly-owned UK-based subsidiary. Full Article

This article summarizes a recent ruling of the Delhi Income Tax Appellate Tribunal (ITAT) in the case of M/s ONGC Videsh Ltd. (Taxpayer) [2009-TIOL-758-ITAT-DEL] on the issue of allowability of depreciation on participatory right to carry out the hydrocarbon operations, acquired by the Taxpayer, pursuant to a Production Sharing Arrangement (PSA). The ITAT held that the participatory right acquired by the Taxpayer was in the nature of asset, in the form of 'license' i.e. .. Full Article

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 20, 2009, Government has approved 17 Proposals of Foreign Direct Investment amounting to Rs. 4551.05 Crore approximately, the largest chunk of which is likely to be invested by a Russian government agency in telecom company Sistema Shyam. Full Article