In 2014, expect increased regulation and a greater tax burden

With increasing regulatory scrutiny of the oil & gas industry, the tax burdens faced by oil & gas firms will likely increase, an opinion attested in an article by Deloitte. Fracking has allowed greater access to natural gas, however widespread concern about the environmental impact could lead to tangible changes in the regulatory environment, and greater tax oversight.

It is important for companies and their tax professionals to focus on tax issues to avoid exposing themselves to risk, because staying up to date with environmental and safety concerns is vital.

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