Upcoming Events

National | Crime and Justice

no events match your query!

New Events

National

no events posted in last week

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link The Daily Sceptic Christmas Appeal Mon Dec 23, 2024 07:00 | Toby Young
The Daily Sceptic's Christmas Appeal launches today ? an opportunity for readers to show their appreciation of the work we do. Remember, donating just ?5/month or ?50/year will give you access to a range of premium perks.
The post The Daily Sceptic Christmas Appeal appeared first on The Daily Sceptic.

offsite link News Round-Up Mon Dec 23, 2024 01:12 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link Staff at ?100 Million Alan Turing Institute Attack ?Chaotic? Management Amid Diversity Row Sun Dec 22, 2024 19:00 | Richard Eldred
Staff at the ?100 million Alan Turing Institute have erupted in protest over a diversity row, accusing leadership of "tokenistic" hiring and sparking fears that the organisation's credibility is at risk.
The post Staff at ?100 Million Alan Turing Institute Attack ?Chaotic? Management Amid Diversity Row appeared first on The Daily Sceptic.

offsite link ?Our Irish Leaders Have Contributed to Hatred Against Jews? Sun Dec 22, 2024 17:00 | Richard Eldred
Ireland's Chief Rabbi has blasted the country's leaders for fuelling antisemitism, leaving Jewish children hiding their identities and many others afraid to wear symbols of their faith.
The post ?Our Irish Leaders Have Contributed to Hatred Against Jews? appeared first on The Daily Sceptic.

offsite link ?Grocery Tax? to Hike Britons? Shopping Bills by ?56 in Labour Net Zero ?Inflation Boost? Sun Dec 22, 2024 15:00 | Richard Eldred
Labour's "grocery tax" is set to punish British families, slapping an extra ?56 onto their shopping bills and driving up inflation, all in the name of Net Zero.
The post ?Grocery Tax? to Hike Britons? Shopping Bills by ?56 in Labour Net Zero ?Inflation Boost? appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Voltaire, International Newsletter N?113 Fri Dec 20, 2024 10:42 | en

offsite link Pentagon could create a second Kurdish state Fri Dec 20, 2024 10:31 | en

offsite link How Washington and Ankara Changed the Regime in Damascus , by Thierry Meyssan Tue Dec 17, 2024 06:58 | en

offsite link Statement by President Bashar al-Assad on the Circumstances Leading to his Depar... Mon Dec 16, 2024 13:26 | en

offsite link Voltaire, International Newsletter N?112 Fri Dec 13, 2024 15:34 | en

Voltaire Network >>

News Release: Vermilion's Luxembourg tax deal will further reduce revenue from Corrib – by how much?

category national | crime and justice | press release author Wednesday November 12, 2014 23:34author by shell2sea Report this post to the editors

-- Corporation tax is only means of extracting revenue from Irish resources --

Shell to Sea has called on Minister for Energy and Natural Resources Alex White to clarify what impact Corrib Gas partner Vermilion's Luxembourg tax avoidance deal – revealed in today's Irish Times – will have on the revenue the exchequer thinks it will earn from the Corrib gas field. [1]

Spokesperson Maura Harrington said: "Under Ireland's dysfunctional licensing terms, corporation tax is the only means the State uses to extract revenue from gas or oil found under Irish territory. Today's revelation that Vermilion is using a Luxembourg tax avoidance deal to reduce its tax bill in Ireland raises serious questions for Minister Alex White and the Government."

"The 'Luxleaks' disclosure confirms what campaigners and others have warned about for many years – that creative accounting means the revenue earned from a gas field such as Corrib will be only a tiny fraction of the revenue these multinationals generate for their private and out-of-state shareholders. [2]

Ms Harrington continued "Shell, Statoil and Vermilion plan to sell the gas from this Irish gas field to Irish consumers at the international market rate, and will then use complex tax structures such as those involving Luxembourg to move their profits around the world and ensure the Irish people see little or none of the revenue."

Former Managing Director of the Corrib Gas project, Brian O’Cathain previously stated in 2010 “That Corrib will never pay tax”.[3]

ENDS

http://shelltosea.com/content/news-release-vermilions-l...-much

Links/References

[1] Corrib gas partner using Luxembourg deal to reduce tax bill - Colm Keena - Irish Times - 7/11/14
http://www.irishtimes.com/business/economy/corrib-gas-p...91553

[2] Making a Killing: Oil Companies, Tax Avoidance and Subsidies - Platform London
http://platformlondon.org/p-publications/making-a-killi...idies
[3] Corrib 'will never pay tax' says project's former MD - News Release – Dublin Shell to Sea
http://www.shelltosea.com/content/news-release-corrib-w...er-md

See also earlier press release:

Corrib gas partner using Luxembourg deal to reduce tax bill
http://shelltosea.com/content/corrib-gas-partner-using-...-bill

© 2001-2024 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy