Erion Lena A new tax legislation impacting companies operating in the hydrocarbons sector came into effect at the beginning of January 2014. Previously, Law no.7746 on Hydrocarbons, dated July 28 1993 defined VAT-exempt supplies in the hydrocarbon operations to include services supplied by contractors and subcontractors, certified as such by the National Agency of Natural Resources, relating to performance in the stages of both exploration and development of petroleum operations.
May 26 2014