A comparative study of income tax legislation for foreign oil and gas companies investing in Africa

TL;DRAbstract

The oil and natural gas industry worldwide has become one of the most important commodities due to its value in use and dependency in our modern lifestyle. Countries with rich oil and natural gas reserves has shown to exploit these resources to the country's economic benefit. South Africa has in the past not been part of the big oil and natural gas producing countries of the world. But recent discoveries of possible shale gas reserves in the Karoo Basin attracted interest by foreign oil and gas companies with the potential that South Africa has as an oil and natural gas producing country. The purpose of this study is to compare the South African income tax law and regulations with that of the Republic of Equatorial Guinea, which arguable can be seen as one of the world's big oil and natural gas producing countries. The study firstly develops an understanding of each of the two countries' oil and natural gas industries and thereafter compares the two countries income tax laws, the incom

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