The Conservative Party - Part Two.

[Longcol 600]

Thanks to the generosity of George Osbourne back in 2016, Shell and BP have paid no Corporation Tax on North Sea production in the last 3 years. In the same period they've claimed £400 million in tax relief and paid £44 billion in dividends to shareholders.

 

https://www.theguardian.com/business/2021/oct/30/shell-and-bp-paid-zero-tax-on-north-sea-gas-and-oil-for-three-years

 

 

[Tony 10]

Not sure that you can blame Osborne for this one. It's a very old story that the Graun have dredged. It's almost as if they are trying to wind up their readers on the eve of COP26.  

 

As reported at the time, it's straightforward accounting, as is the Graun being owned by an offshore tax haven and paying a lot less worldwide tax than Shell.

Quote

Oil supermajor Royal Dutch Shell has revealed that it paid no corporate income tax in the UK in 2018, despite earning $731m (£557m) in profit.

Instead, the Anglo-Dutch giant took nearly $115m in tax rebates related to the decommissioning of North Sea oil platforms.

 

 

The firm said that $79m of this was through a refund of income tax due to decommissioning the Brent field, which has been operating for over 40 years.

 

It added that “the taxable profits of the remaining portfolio were offset by losses brought forward which resulted in no further corporate income tax payments in 2018.”

 

The figures were disclosed in Shell’s new Tax Contribution Report, an attempt to increase the firm’s transparency.

 

In 2018, Shell companies paid $10.1 billion in corporate income tax and $5.8 billion in royalties around the world.

It added that it collected $48.2bn in excise duties, sales taxes and similar levies on fuel and other products.

Shell reported an overall tax rate of 32.9 per cent in 2018.

 

Group chief financial officer Jessica Uhl said: “Shell is committed to compliance. Specifically, we seek to comply with the applicable tax laws in all the countries and locations in which we have a taxable presence.

 

“Shell was one of the first companies to endorse the B Team responsible tax principles in 2018 because we want to make a meaningful contribution to the shaping of more transparent tax systems.

Read more: Royal Dutch Shell beats third quarter expectations amid low oil prices

 

“We support an approach to taxation that, in our view, allows companies to help create a sustainable society.”

Shell is one of the region’s biggest producers and supplies around 10 per cent of the UK’s total oil and gas needs.

https://www.cityam.com/shell-paid-no-corporate-income-tax-in-the-uk-in-2018/

Whether the system can be changed is another discussion that we could have. It's notable that the UK now has one of the largest tax takes in the developed world and that cooperation tax has gone up substantially under the Tories. Everyone can take advantage of the same tax breaks.

[Longcol 600]

2 hours ago, Tony said:

 

https://www.cityam.com/shell-paid-no-corporate-income-tax-in-the-uk-in-2018/

Whether the system can be changed is another discussion that we could have. It's notable that the UK now has one of the largest tax takes in the developed world and that cooperation tax has gone up substantially under the Tories. Everyone can take advantage of the same tax breaks.

Really?  How many companies can take advantage of the tax breaks resulting from the zero rating of the Petroleum Revenue Tax?

 

https://www.gov.uk/guidance/oil-gas-and-mining-petroleum-revenue-tax

Edited October 31, 2021 by Longcol

[carosio 186]

It's probable that many of us on here who have pension funds have Shell in the portfolio.

[steved32 55]

Johnson and his PROMISES... about as much credibility as his multiple marriage vows.

 

 

[Mister M 1,625]

In the last election, Boris Johnson promised that he would increase the number of GPs by 6,000 more.

That's now not going to be delivered, according to the Health Secretary Sajid Javid.

No 10 set to break promise of 6,000 more GPs in England, Sajid Javid says | GPs | The Guardian

Edited November 2, 2021 by Mister M

[Mister M 1,625]

 

Here's Boris Johnson at today's opening ceremony of Cop26. 

Maskless, and either half asleep or pi$$ed. Who knows....

 

At least Sir David Attenborough has the manners to look alert.

Edited November 2, 2021 by Mister M

[Anna B 1,414]

1 hour ago, Mister M said:

In the last election, Boris Johnson promised that he would increase the number of GPs by 6,000 more.

That's now not going to be delivered, according to the Health Secretary Sajid Javid.

No 10 set to break promise of 6,000 more GPs in England, Sajid Javid says | GPs | The Guardian

And you're surprised? 

Boris spouts figures off the top of his head all the time. If it sounds good he'll say it, and not bother about the little details like whether it's true or not. He knows the little people are stupid and will swallow any old guff, they won't remember it anyway. They're no match for the Oxbridge elite who can run rings round them. Like shooting fish in a barrel....

[Mister M 1,625]

7 minutes ago, Anna B said:

And you're surprised? 

Boris spouts figures off the top of his head all the time. If it sounds good he'll say it, and not bother about the little details like whether it's true or not. He knows the little people are stupid and will swallow any old guff, they won't remember it anyway. They're no match for the Oxbridge elite who can run rings round them. Like shooting fish in a barrel....

Not surprised at all. I'm just waiting for the blame to be heaped on to doctors retiring early.

[alchresearch 214]

14 hours ago, Mister M said:

 

Here's Boris Johnson at today's opening ceremony of Cop26. 

Maskless, and either half asleep or pi$$ed. Who knows....

 

At least Sir David Attenborough has the manners to look alert.

And here's ANOTHER picture taken around the same time. Johnson has his mask on, Attenborough doesn't:

 

[melthebell 863]

55 minutes ago, alchresearch said:

And here's ANOTHER picture taken around the same time. Johnson has his mask on, Attenborough doesn't:

 

I don't see a second image

[tinfoilhat 11]

1 hour ago, alchresearch said:

And here's ANOTHER picture taken around the same time. Johnson has his mask on, Attenborough doesn't:

 

The second one looks photoshopped!