According to the budget department within the MNI, as of May 2010, the general value of taxes levied in Israel on oil and gas activities (including income tax on individuals, corporate tax, VAT and royalties) is about 40%, as was determined by a research carried out by the Knesset and was just published. This represents and income to the Treasury of about $16 billion from natural gas reserves of about $40 billion. The research that was carried out shows that in most countries the level of taxation is higher than this 40%, with the UK having a 40% rate on the low end and Qatar a 94% on the high end. Norway has a tax revenue of 85% on oil and gas exploration.