Jersey Oil and Gas (GB:JOG) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Jersey Oil & Gas has informed stakeholders of significant changes to the UK’s Energy Profits Levy, which will see an increase to 38% from November 2024, consequently pushing the total tax rate for upstream oil and gas activities to 78%. The levy is now extended until 2030, though it will be discontinued if energy prices fall to normal levels for a sustained period. Additionally, the current 29% investment allowance for qualifying expenditures will be eliminated, with further details on capital allowance claims to be revealed in the upcoming October Budget.
For further insights into GB:JOG stock, check out TipRanks’ Stock Analysis page.
