Germany Extends Tax Breaks for Natural Gas Production

7 July 2017 – A plan to extend significant tax breaks for production of both natural gas and liquefied petroleum gas through 2023 was approved on 7 July by German lawmakers, who deemed the measure deemed necessary for the country’s problematic transportation sector. The preferential tax treatment for natural gas and LPG was due to expire on 1 January 2019. Now, the 56 percent break on energy taxes on all types of natural gas will continue through 31 December 2023, with deductions gradually reduced each year thereafter until 2026. The exemption for LPG will slowly be phased out until 2023 starting in early 2019. Read the full article on the Bloomberg BNA website.