UPDATE 1-JKX Oil & Gas plans 'measures' in Ukraine after tax hike

Понедельник, 4 августа 2014 11:59 MSD

* Company says to take "operational and financial measures"

* Tax on gas production to almost double to 55 pct

* Ukraine accounted for 84 pct of JKX revenue in 2013

* Shares fall 13 pct to decade-low (Adds details, share price)

Aug 4 (Reuters) - JKX Oil & Gas Plc said it would take "operational and financial measures" to protect its interests in Ukraine after the introduction of emergency legislation that will raise oil and gas production taxes.

Shares of JKX fell 13 percent in early trading to their lowest in more than a decade. The stock was one of the top percentage losers on the London Stock Exchange.

Ukraine's parliament agreed last week to amend the 2014 budget to take account of falling revenue and release more funds to finance a military conflict with pro-Russian separatists in the east of the country.

An additional 1.5-percent personal income tax will be levied until the end of the year to cover the military. Taxes were raised on tobacco and mining, as well as the oil and gas sector.

Ukraine contributed 84 percent of JKX's revenue last year.   Продолжение...