Tag: Fossil Fuel Industry

Multinational tax integrity and tax avoidance by the fossil fuel industry: Part 2 – Pearls and Irritations

Tax concept, Withholding taxes binders files on document report in business office. Retention taxes is income tax to be paid to government by payer of income rather than by recipient of the income.

According to a report published in 2020 by the Global Alliance for Tax Justice, corporate ‘profit shifting’, a.k.a. ‘tax avoidance’, cost countries $620 billion in lost tax revenue in that year alone. Nowhere is this kind of behaviour more evident than in the operations of the global fossil fuel industry.

Source: Multinational tax integrity and tax avoidance by the fossil fuel industry: Part 2 – Pearls and Irritations

In Irony, $9.7 bn. GigawattFactory Hub for Battery, Renewables, to be Built by Coal Firm on Wasteland its Open Mining Created

“The GigawattFactory combines innovative storage solutions, green hydrogen and future-proof power plants and makes environmentally friendly energy available as a secure service – this is a whole new quality in energy supply,” said LEAG CEO Thorsten Kramer, presenting the plan at the East German Energy Forum in Leipzig. “This will make us a pioneer in the safe energy transition.” The project will also be a powerful job engine for eastern Germany and help make energy affordable again, Kramer added.

Photovoltaic and wind power turbines will also be installed in LEAG’s former mining sites. The 7 GW hub will be able to supply four million households with green energy, said the company.

 

Source: In Irony, $9.7 bn. GigawattFactory Hub for Battery, Renewables, to be Built by Coal Firm on Wasteland its Open Mining Created