Just 7% tax take for State from gas fields?

The tax write-offs under Ireland’s licensing terms for oil and gas are so generous, oil companies could end up paying the exchequer as little as 7% of the revenue from Irish gas fields. This shocking figure is extrapolated from information provided by Brian O’Cathain, former head of the Corrib Gas project. He also predicted Corrib would not now pay any tax. By William Hederman.