Latest News for: Taxes offshore

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Oil and gas industry calls on Johnson to reject windfall tax proposal

Belfast Telegraph 24 May 2022
UK companies servicing oil and gas operators have urged the Prime Minister and the Chancellor against enforcing a windfall tax, in an open letter ... In response, 31 organisations in the UK’s offshore energy supply chain have written an open letter calling for an end to speculation about such a tax.
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Margaret Thatcher supported windfall taxes – but it won't work this time

The Daily Telegraph 24 May 2022
Mr Norman said arguments against a windfall tax were “very weak”, as Chancellor Rishi Sunak comes under growing pressure to raise extra funds to help struggling households ... Offshore Energies UK, a pressure group, has said a windfall tax could add £700 to consumers’ annual heating bills if investment declines and oil stocks plummet.
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Facebook Australia funnels nearly $1bn offshore

The Daily Telegraph Australia 24 May 2022
The local arm of US tech giant Facebook paid just $24m in tax last year, despite raking in advertising revenue of $1.1bn – most of which was sent offshore, according to financial results filed with Australia’s corporate regulator ....
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The recipe for the outperformance of Swiss businesses

Economist 24 May 2022
Lucerne halved its corporate tax rate in 2012 to do just that. Zug has the lowest corporate tax rate at 11.9%. Only “offshore” financial centres such as Guernsey and Qatar have lower tax rates than those levied in the low-tax cantons, states a report by kpmg, an accounting firm.
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The recipe of the outperformance of Swiss businesses

Economist 23 May 2022
Lucerne halved its corporate tax rate in 2012 to do just that. Zug has the lowest corporate tax rate at 11.9%. Only “offshore” financial centres such as Guernsey and Qatar have lower tax rates than those levied in the low-tax cantons, states a report by kpmg, an accounting firm.
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Texas ramps up oil production as gas prices reach new record high

The Bradford Era 23 May 2022
From cancelling federal land and offshore leasing permits, to increased regulation and proposed taxes, to depleting the Strategic Oil Reserves, to turning to foreign oil production, Biden has done everything to hamper, and in many ways, halt domestic oil production, those in the industry contend.
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Lewis and Javid oppose using windfall tax to battle cost-of-living crisis

Belfast Telegraph 22 May 2022
Two Cabinet ministers have voiced their objections to imposing a windfall tax on oil and gas firms to address the cost-of-living crisis ... “So we’d be very, very wary of a windfall tax ... “You just mentioned the windfall tax idea ... Offshore Energies UK, the energy industry’s trade body, has said the tax would put investment and jobs at risk.
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More than $1bn of Coalition’s climate funding could go to fossil fuel projects, analysis finds

The Observer 22 May 2022
Up to $40m has been promised to help gas giant Woodside build a CCS hub in the Pilbara ... Read more ... The pledges included. ... $20m for CarbonNet, a project that aims to capture and store carbon dioxide in an offshore reservoir in Gippsland in Victoria. $66m in the budget for a “patent box” tax concession for “low emissions technology innovations” ... Revealed.
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Oil and gas industries reject call for windfall tax

Belfast Telegraph 20 May 2022
Oil and gas producers have pushed against a windfall tax on their profits in light of rising prices ... Many operators, other than BP, in the North Sea are “really worried” that a windfall tax could impact their investments, according to the head of the body which represents the UK offshore oil and gas industry.
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Jacob Rees-Mogg warns against raiding ‘honey pot’ with oil and gas windfall tax

Belfast Telegraph 20 May 2022
Jacob Rees-Mogg argued it is wrong to raid the “honey pot of business” to fund measures to ease the cost-of-living crisis by imposing a windfall tax on oil and gas giants ... Pressed if he would say never to such a tax, Mr Rees-Mogg said ... Offshore Energies UK, the energy industry’s trade body, has argued the tax would put investment and jobs at risk.
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Boris Johnson: I cannot ‘magic away’ cost-of-living crisis

Belfast Telegraph 20 May 2022
One measure he is facing calls to implement is a windfall tax on the soaring profits of oil and gas giants to fund a fresh support package or reduce consumer bills ... Pressed if he would say never to such a tax, Mr Rees-Mogg said ... Offshore Energies UK, the energy industry’s trade body, has said the tax would put investment and jobs at risk.
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Oil and gas industry warns UK ministers against new ‘windfall tax’

The National 19 May 2022
But Offshore Energies UK said it already expected to pay £7.8 billion ($9.6bn) in taxes as a result of the boom and the industry required “stability and predictability” in the fiscal regime.READ MORE ... A “stable and predictable regime” had historically resulted in increased investment and activity, leading in turn to a growth in tax revenue.
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18/5/22 G-POLA NEARLY CRASHED INTO MY HOME UNSAFE FLY REPORT 24581, IPOC MISCONDUCT WINTON KEENAN REF:

World Truth Videos 19 May 2022
Cards with black helicopters and offshore banks ... The offshore banks are nothing else than laundry machines for money laundering ... There in these offshore banks giant sums of money of the criminal secret services are laundered ... In these offshore banks all is administrated what is not working officially.
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ERC seeks excise tax suspension

Manila Bulletin 19 May 2022
... that the decline of revenue collections from the power sector could be offset by imposing higher taxes on the so-called “non-essentials” – and such may cover vehicle purchases, the Philippine Offshore Gaming Operators (POGOs), as well as those that are in the gaming industry.
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Romania tweaks tax law to spur offshore Black Sea gas investments

Hellenic Shipping News Worldwide 19 May 2022
After years of stalling, Romanian lawmakers approved legislation on ...

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