The same way they have to pay royalties to the EU via Ireland.

I am sure they will make use of any tax pools and write offs that they are allowed including possibly reinvesting capital, (this tax year), to reduce taxable revenue.  That is what the accountants are for.

However, if the EU passes this windfall tax they can and will impose it on VET and it probaby will eat into shareholder returns moving forward at least temporarily. I am not sure how long investors will shoulder cap-ex over returns or how long the EU will impose windfall taxes so that the pile just keeps being pushed forward.  

It can only be imposed on the EU holdings however.  Not the USA, Canada or Australia.

GLTA Longs


Carlo2021 wrote: galaxyr wrote:

Will VET, not be able to reduce its 2022 Irish taxes from the Corrib Sea by deducting the $500 million purchase price from its acquisition from Equinor and or use it's over $400 million in tax pools from the Corrib? Why would VET have to pay a windfall tax on earnings outside the EU? It's a Canadian listed company. I have a hard time thinking they have to pay additional taxes on Australian Brent oil earnings or north american earnings to the EU. Or am I missing somethin
 

generally tax treaties would reduce taxation in a jurisdiction to the income earned in that jurisdiction .