World Business NewsA round up of the latest news for those doing business internationally
Ireland plans higher taxes on offshore petroleum
Zone(s): Ireland ¦ Sector(s): Taxation
The Government sought independent advice on the appropriateness of Ireland’s fiscal terms, and estimates on how much more revenue could be drawn from the sector. Rabbitte said that he has sought the Government’s agreement that Ireland’s oil and gas fiscal terms should be revised along the lines suggested in the report. He said he does not wish to see any retroactive changes made to the terms applied to existing exploration authorizations.