George Turner - Analysis: How Rich Stone Oil Firms Are Using Secretive Courtroom To Struggle Upper-Case Alphabetic Quality Gains Taxation Inwards Developing World

At a picayune known simply powerful international courtroom of arbitration, in addition to thence secretive that senior officials spend upwards to break fifty-fifty the dates of hearings, a novel representative has been filed that volition pitch a mighty the US crude major from Houston, Texas, against ane of the world’s end Communist-run countries.

On the seem upwards of it, this battle betwixt ConocoPhillips in addition to the Socialist Republic of Vietnam is equally dry out equally it gets. Hardly anyone has nevertheless heard of it.

But the trial could grade a meaning shift inwards the means huge multinationals struggle off the threat of taxes from desperate revenue regime inwards developing countries.

For ConocoPhillips is using the not-so-glamourous Bilateral Investment Treaty Mechanism of the United Nations to launch a pre-emptive legal strike against Vietnam’s intention to levy an estimated $179m upper-case alphabetic lineament gains taxation accuse on crude fields sold past times ane of its U.K. subsidiaries.

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George Turner - Analysis: How rich crude firms are using secretive courtroom to struggle upper-case alphabetic lineament gains taxation inwards developing world