North sea oil firms urged to explain tax haven links

29 August 2016

NORTH Sea operators are facing demands to explain their links to tax havens as their contributions to Scotland’s public finances plunge.

Several oil and gas firms drilling in the North Sea have complex and opaque corporate structures which include sister companies or subsidiaries registered in low-tax “offshore” jurisdictions. However, a report from the International Transport Workers’ Federation (ITF) has now questioned the industry’s use of multiple tax haven firms.

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