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London-based industry and financial research firm BMI Research hailed the Lebanese Parliament's approval of the oil tax law as a step to speeding up gas exploration.On Oct. 12, a consortium of three international companies made a bid to explore gas in maritime blocks four and nine.BMI said that the tax law introduces a 20 percent corporate income tax for companies involved with the exploration and production of hydrocarbons, alongside a fixed stamp-duty fee of 5 million Lebanese pounds ($3,300).It adds that regionally favorable tax laws will encourage companies looking to move into the offshore acreage.
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