Upcoming Events

National | Crime and Justice

no events match your query!

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Oliver Callan: Back in his box

offsite link Elaine Byrne: Lacking moral courage to name names Anthony

offsite link Real democracies and referendums Anthony

offsite link Public Services Card: Some still forced to comply Anthony

offsite link Catholic Church: Dark influence still active Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link Moveable Feast Cafe 2020/05/24 ? Open Thread Sun May 24, 2020 21:00 | Herb Swanson
2020/05/24 20:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link The colonial status of ?The Independent Ukraine? publicly confirmed Sun May 24, 2020 01:06 | The Saker
By Eugenia for The Saker Blog On May 19th, the member of the Ukrainian Parliament (Rada) Andrei Derkach revealed at a press conference tape recordings of the phone conversations between

offsite link Having Confidence In Your Case Is a Virtue or New Guiding Principles Have Emerged Sat May 23, 2020 22:00 | amarynth
Paul Schmutz Schaller for The Saker Blog PART I Living in a rich Western country is by far not without problems. Sure, until now, I do not suffer from material

offsite link Medicine as religion Sat May 23, 2020 20:25 | The Saker
original Italian text by by Giorgio Agamben translated for The Saker Blog by Gulab Bara posted by permission of the author original article here: https://www.quodlibet.it/gi... It is now plainly evident

offsite link The ominous Jihadis war; From Tripoli to Tripoli: Sat May 23, 2020 12:35 | amarynth
By Ghassan Kadi for the Saker Blog The ?War on Syria? is far from being over, and it will continue until all foreign forces illegally present on Syrian soil retreat;

The Saker >>

Human Rights in Ireland
A Blog About Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

offsite link Turkish President Calls On Greece To Comply With Human Rights on Syrian Refugee Issues Wed Mar 04, 2020 17:58 | Human Rights

offsite link US Holds China To Account For Human Rights Violations Sun Oct 13, 2019 19:12 | Human Rights

offsite link UN Human Rights Council Should Address Human Rights Crisis in Cambodia Sat Aug 31, 2019 13:41 | Human Rights

offsite link Fijian women still face Human Rights violations Mon Aug 26, 2019 18:49 | Human Rights

Human Rights in Ireland >>

Cedar Lounge
"A flaky website that purports to be ?leftist,? The Cedar Lounge Revolution, occasionally makes a relevant point or two."

offsite link Moves against Government 21:31 Sun May 24, 2020 | irishelectionliterature

offsite link Brexit and NI 13:47 Sun May 24, 2020 | guestposter

offsite link Spin off? 11:46 Sun May 24, 2020 | WorldbyStorm

offsite link Statements in the media? good, bad and indifferent? 10:06 Sun May 24, 2020 | guestposter

offsite link Context? 12:05 Sat May 23, 2020 | irishelectionliterature

Cedar Lounge >>

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

© 2001-2020 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