Petroleum taxation and royalty terms
After clarifying that he is returning to Question 1, Mac Giolla asks whether negotiations have taken place on taxation and royalties. Spring says taxation is for the Minister for Finance and that the Government expects to announce the offshore petroleum tax regime soon.
I regret I missed the opening sentences of the Minister's reply. In regard to my question——
Comment on this
I thought both were taken together. Have any new negotiations taken place with the oil companies concerned with regard to changes in taxation and royalty rights?
Comment on this
The question of taxation is a matter for the Minister for Finance which I do not wish to encroach upon. Prior to the Deputy coming into the House I said the Government would make an announcement soon in regard to the taxation regime which will apply to petroleum offshore development.