International Development written question – answered at on 3 March 2010.
Clare Short
Independent Labour, Birmingham, Ladywood
To ask the Secretary of State for International Development if he will apply the rules of the extractive industries transparency initiative in relation to any oil that may be discovered in the Falkland Islands.
Michael Foster
Parliamentary Under-Secretary, Department for International Development
If oil is discovered in the Falkland Islands, any revenues generated will be subject to the same rules applied by the UK Government to other revenue received from extractive industries.
The UK Government publish all information on revenue received from oil and gas industries, including taxation revenues and this available on the HM Revenue and Customs website at
http://www.hmrc.gov.uk/index.htm
The UK practice of disclosure of revenue information is in line with the principles of the Extractive Industries Transparency Initiative.
Yes2 people think so
No1 person thinks not
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