[20210416]IF11528_石油和天然气税收优惠 .pdf

https:/crsreports.congress.gov Updated April 16, 2021Oil and Gas Tax Preferences The tax code contains a number of provisions that benefit the oil and gas sector. Some contend that these provisions should be eliminated, arguing that using energy derived from oil and gas resources is inconsistent with environmental objectives. Others view these provisions as helping a sector that is vital to the U.S. and world economy. Certain provisions are designed such that they only become available when oil prices are low, providing relief when market conditions are less favorable. This In Focus (1) describes tax preferences for oil and gas; (2) provides information on foregone revenue associated with these tax preferences (“tax expenditures”); and (3) discusses broader tax policy issues of importance to the oil and gas sector. Oil and Gas Tax Preferences Several features of the income tax system reduce the tax liability of oil and gas companies. Special tax provisions include exclusions, deductions, credits, deferrals, or preferential tax rates that reduce a taxpayers tax liability. Tax preferences for oil and gas reduce the after-tax cost of investing in oil and gas exploration and productio