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We shouldn't expect any tax revenues.

Reader comment on item: Remarkable Israel
in response to reader comment: To Ami S

Submitted by Ami S. (Israel), Jun 20, 2011 at 02:55

@Solomon

About taxes: The royalties to the government are officially 12%. However, the billionaires have various ways of avoiding any payment. For example:

  1. Define the extraction as a "pilot." The strip-mine oil shale facility in the Negev has been defined as a pilot for twenty years!
  2. Since the new extraction technique has never earned a profit, the Adullam facility might just be a way of learning more about the technique. The local front-company can then sell the knowledge, declare bankruptcy, and not clean up the mess in the park.
  3. Play accounting games to make it seem that the project is not making a profit and so doesn't need to pay royalties.
  4. Other techniques that their highly-paid lawyers can figure out better than any of us.
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