Oil giants pay billions less tax in Canada than abroad


tay
#1
The low rate that oil companies pay in Canada represents billions of dollars in potential revenue lost, which an industry expert who looked at the data says is a worrying sign that the country may be “a kind of tax haven for our own companies.”

The countries where oil companies paid higher rates of taxes, royalties and fees per barrel in 2016 include Nigeria, Indonesia, Ivory Coast and the UK.

“I think it will come as a surprise to most Canadians, including a lot of politicians, that Canada is giving oil companies a cut-rate deal relative to other countries,” said Keith Stewart, an energy analyst with Greenpeace.

Companies like Chevron Canada paid almost three times as much to Nigeria and almost seven times as much to Indonesia as it did to Canadian, provincial and municipal governments.

Chevron used to run its Nigeria and Indonesia projects out of the U.S., but after allegations that they evaded billions in taxes, their operations were moved to Canada.

According to data collected by the Guardian, Suncor also paid six times more taxes to the UK, and Canadian Natural Resources Limited (CNRL) paid almost four times more to Ivory Coast.

more

https://www.theguardian.com/environm...P=share_btn_fb
 
MHz
#2
The money isn't lost so who is collecting it at the moment, the shareholders of said companies happens to be the same ones that own the World Bank.
 
captain morgan
Bloc Québécois
#3
... It's good to be in the E&P game... Very good
 
Danbones
Free Thinker
#4
...so they oil call themselves giants, its an ego thing, but if they will pay millions for a broad, shouldn't we tax that?
 
Hoid
#5
TO be fair they went to all the trouble of buying a federal government.
 
captain morgan
Bloc Québécois
#6
And as they own the government, you really ought to stop complaining... It is theirs after all
 
Walter
#7
Good. Lower corporate taxes means cheaper fuel for me.
 
petros
#8
Quote: Originally Posted by captain morgan View Post

... It's good to be in the E&P game... Very good

I did extremely well in Min Ex. My company still exists and it is holding a shit load shares in Uranium, gold, silver, copper, zinc, iron, lead, REEs,

Saskatchewan is the richest piece of real estate on Earth.

Alberta, Manitoba and Ontario combined can't hold a candle to Saskatchewan when it comes to resources.
 
captain morgan
Bloc Québécois
#9
That's what I've come to understand... On that note, what the hell is Sask waiting for in terms of developing the Athabasca?
 
petros
#10
Quote: Originally Posted by captain morgan View Post

That's what I've come to understand... On that note, what the hell is Sask waiting for in terms of developing the Athabasca?

Roads thru muskeg aren't cheap.
 
Johnnny
No Party Affiliation
#11
Quote: Originally Posted by Walter View Post

Good. Lower corporate taxes means cheaper fuel for me.

Maybe for you guys down south...
 
JamesBondo
#12
Quote: Originally Posted by tay View Post

The low rate that oil companies pay in Canada represents billions of dollars in potential revenue lost, which an industry expert who looked at the data says is a worrying sign that the country may be “a kind of tax haven for our own companies.”

The countries where oil companies paid higher rates of taxes, royalties and fees per barrel in 2016 include Nigeria, Indonesia, Ivory Coast and the UK.

“I think it will come as a surprise to most Canadians, including a lot of politicians, that Canada is giving oil companies a cut-rate deal relative to other countries,” said Keith Stewart, an energy analyst with Greenpeace.

Companies like Chevron Canada paid almost three times as much to Nigeria and almost seven times as much to Indonesia as it did to Canadian, provincial and municipal governments.

Chevron used to run its Nigeria and Indonesia projects out of the U.S., but after allegations that they evaded billions in taxes, their operations were moved to Canada.

According to data collected by the Guardian, Suncor also paid six times more taxes to the UK, and Canadian Natural Resources Limited (CNRL) paid almost four times more to Ivory Coast.

more

https://www.theguardian.com/environm...P=share_btn_fb

FLucking Lieberals!
 
MHz
#13
It is all industry that works like that all the time. Canada used to give land away free and to help immigration along conditions on the home-front were made intolerable just a specific group was willing to leave. The family farm is a thing of the past so apparently the land thing was a temporary thing that only really applied to the original generation down to their grandkids. Rather than them profiting from the work of their ancestors the corporations send the profits back to where the settlers came from. Various parts of the EU and they are controlled by one group.
 
JamesBondo
#14
Flucking Lieberal Fascists
 
MHz
#15
What?? We didn't have to kill many people to get electricity to our doors, our great grandparents would have done it if they had arrived sooner. If they ditched Germany before about 1910 there were smart enough to know what was about to happen and they wanted no part of the insanity.
 
captain morgan
Bloc Québécois
+1
#16
Quote: Originally Posted by petros View Post

Roads thru muskeg aren't cheap.

... And they won't be getting any cheaper anytime soon
 
mentalfloss
#17
Oil tycoons are the 'good elites' apparently.
 
petros
+1
#18
Would you prefer they paid taxes and employed people elsewhere?
 
taxslave
Free Thinker
+2
#19  Top Rated Post
Quote: Originally Posted by tay View Post

The low rate that oil companies pay in Canada represents billions of dollars in potential revenue lost, which an industry expert who looked at the data says is a worrying sign that the country may be “a kind of tax haven for our own companies.”

The countries where oil companies paid higher rates of taxes, royalties and fees per barrel in 2016 include Nigeria, Indonesia, Ivory Coast and the UK.

“I think it will come as a surprise to most Canadians, including a lot of politicians, that Canada is giving oil companies a cut-rate deal relative to other countries,” said Keith Stewart, an energy analyst with Greenpeace.

Companies like Chevron Canada paid almost three times as much to Nigeria and almost seven times as much to Indonesia as it did to Canadian, provincial and municipal governments.

Chevron used to run its Nigeria and Indonesia projects out of the U.S., but after allegations that they evaded billions in taxes, their operations were moved to Canada.

According to data collected by the Guardian, Suncor also paid six times more taxes to the UK, and Canadian Natural Resources Limited (CNRL) paid almost four times more to Ivory Coast.

more

https://www.theguardian.com/environm...P=share_btn_fb

Cherry picked data by a lefty rag known to be anti Canadian business.