"Ireland only taxes the profits of such enterprises [petroleum exploration and production]. There is no per unit tax or levy as in other countries and Ireland's tax rate is relatively low. The State also does not take an ownership stake in the field or demand royalties. Thus on this basis, Ireland's tax regime is generous in comparison to that of other countries. "
By:
RTE News
Public input is being sought on how to harness the potential of Ireland's marine resources.
A public consultation process has started on how to harness the potential of Ireland's vast marine resource to tap into an estimated €1 trillion global market for marine products and services.
The sectors being discussed include seafood, tourism, shipping, oil and gas, renewable ocean energy and new applications for health, medicine and technology.
At the launch of the consultation, Minister for Agriculture, Food & the Marine Simon Coveney said people in Ireland need to change the way they think about the sea.
He said they need to look for new opportunities to harness the potential of the country's 220m acre marine resource.
Mr Coveney said the Government is determined to generate the momentum to drive forward a new era of sustainable economic development across the maritime sectors and use these opportunities to assist in Ireland's recovery.
This public consultation, he said, represents a significant step in a process to develop an integrated marine plan for Ireland and move from generating only 1.2% of GDP from this vast resource, which covers an area ten times the size of Ireland's land mass.
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Comments on RTE
Jim Bob
Stop giving it away...Go to state owned gas for any new finds or start charging realistic royalties..
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Brian M
Shell announced $21 billion profit yesterday. How about stop giving both the oil and gas and the control of it to foreign multinationals?
Former head of the Corrib Gas project, Brian Ó Catháin has previously said "Corrib will never pay tax". A report by the US Government Accountability Office in 2007 found that after Cameroon, Ireland has the second lowest government take on oil and gas deposits of 142 countries studied.
Former head of the Corrib Gas project, Brian Ó Catháin has previously said "Corrib will never pay tax". A report by the US Government Accountability Office in 2007 found that after Cameroon, Ireland has the second lowest government take on oil and gas deposits of 142 countries studied.
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TadComfy
It's also all about preserving our natural resources and coastal waters. Clearly we need to have people in power that can defend our resources from Multinationals and their parasitic business interests. We also need to stop companies from polluting areas of natural beauty such as in Youghal whereby they are setting up a Hazardous waste company. A strong, independent and pro society (not business interest) EPA and An Bord Pleanala, should come to the fore and fight for Ireland's natural wealth.
Posted Date:
3 February 2012 