August 21, 2015 Source: U.S. Census Bureau, include a wellhead impact fee that was in place instead of a severance tax. Several states that produce large amounts of fossil fuels rely heavily on severance tax revenue—taxes based on the volume and/or value of oil, natural gas, coal, and other natural resources. On average, severance taxes […]
Tag Archives: Taxes
Photo: Lagos, Nigeria By Jaiyeola Andrews Abuja — Following the downward slide in the price of crude oil on the international market, the federal government on Thursday disclosed that it had mapped out strategies to increase taxes and other internally generated revenues (IGR) in the country. Deputy Governor of Lagos state, Victoria Adejoke Orelope-Adefulire, stated […]
