General information
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Definition
The Value Tax on the extraction of Gas, Oil and Condensates is a direct tax of a real nature that is levied on the value of public domain products (gas, oil and condensates) extracted in Spanish territory, once the first purification and separation treatment has been carried out.
The tax is regulated by Law 8/2015 of 21 May 2015, which amends Law 34/1998 of 7 October 1998 on the Hydrocarbons Sector, and which regulates certain tax and non-tax measures in relation to the exploration, research and exploitation of hydrocarbons.