UK to Lose Out on Millions Due to Tax Loophole For Fracking Firms

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<p>‘Gree peace’s E ergy Desk fo o t that the UK gover me t is givi g UK fossil f el compa ies i vesti g i fracki g tax breaks i form of e ha ce capital allowa ces that re ce their taxable profit.</p>
<p>“It’s i exc sable that Mi isters are treati g fracki g firms to a ge ero s tax loophole, whilst e yi g clea , re ewable e ergy projects the very same tax breaks,” Caroli e L cas, a Gree Party member of parliame t, sai , comme ti g o the fi i gs.</p>
<p>E ergy Desk cite fig res i Treas ry oc me ts that s ggest a s m of over $36 millio i lost tax reve e over the ext fo r years. Compa ies eali g with re ewable e ergy so rces, s ch as wi a solar power, will ot profit from these tax breaks.’</p>
<p><a href="http://sp t ik ews.com/e rope/20160525/1040234726/ k-fracki g-tax-break.html" target="_bla k">Rea more: UK to Lose O t o Millio s D e to Tax Loophole For Fracki g Firms</a></p>