The oil thing is particularly intriguing. If I recall correctly the costs involved in exploration work can be used to mitigate against the windfall tax (I’m not sure though - someone please check).
The BBCs take on the windfall tax. Inews did this article. Archive link. These are all well and good and explain the Tory spin on the windfall tax system. The reality is vastly different. Shell has paid no tax at all either windfall or standardised.
Weforum dug up the figures. The government introduced cop out clauses and believe it or not large companies are taking advantage of just that. Sunak’s family benefit massively from oil profits, just as a matter of interest.
The oil thing is particularly intriguing. If I recall correctly the costs involved in exploration work can be used to mitigate against the windfall tax (I’m not sure though - someone please check).
The BBCs take on the windfall tax. Inews did this article. Archive link. These are all well and good and explain the Tory spin on the windfall tax system. The reality is vastly different. Shell has paid no tax at all either windfall or standardised.
Weforum dug up the figures. The government introduced cop out clauses and believe it or not large companies are taking advantage of just that. Sunak’s family benefit massively from oil profits, just as a matter of interest.
Thanks. How wonderful.