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Donohoe: Taxing windfall profits at Corrib ‘is a matter for the EU’ | Business Post

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Corrib, off the coast of Mayo, is Ireland’s only domestic gas field and last year its operator and owner, Vermilion Energy, saw its revenues increase by over 250 per cent as a result of rising European gas prices.

Corrib gas field: revenues increased last year by over 250 per cent as a result of rising European gas prices.

Taxing any windfall profits from bumper revenues at the Corrib gas field could only happen as part of a wider coordinated European policy, the Minister for Finance has said.as gas prices around Europe continued to soar due to tightened supply and the fear of being completely cut off from Russian gas supplies.Subscribe from just €1 for the first month!

 

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