Oil & Gas Industry Direct Tax Forum

Terms of reference

To establish close, ongoing links between the Large Business Service Oil & Gas sector (LBS O&G) and its customers for the purpose of:

• Providing a forum within which current taxation, policy, and operational issues as well as industry representation can be discussed in an atmosphere of mutual trust.
• Improving communications between LBS O&G and its customers;
• Improving the service provided by LBS O&G to its customers (including via implementation of the Varney review);
• Identifying the compliance burden on customers with a view to reducing it, and
• Facilitating the meeting of customers’ compliance obligations

Membership

The Forum is made up of oil & gas industry representatives from the UK Oil Industry Taxation Committee (UKOITC), the UK Offshore Operators Association (UKOOA),the Oil Taxation action Committee (OTAC), the Association of British Independent Oil Exploration Companies (BRINDEX), and the Oil and Gas Independents’ Association (OGIA) and senior personnel from the LBS O&G (including the Oil & Gas Sector Lead, Head of Policy and other key personnel) and representatives from HM Treasury (North Seas Branch, Corporate Tax Team).

Chairing arrangements

The Forum will be co-chaired by the LBS Oil & Gas Sector Lead and the Chairman of UKOITC who will jointly prepare agendas.

Wider participation

Agendas and notes of meetings are available at Oil & Gas Industry Direct Tax Forum - Minutes.

Frequency of meetings

It is anticipated that the Forum will meet 4 times a year, with the facility for extra meetings if issues arise that require discussion at short notice.