University of Calgary, The School of Public Policy Research Paper - Canada, The Law of the Sea Treaty and International Payments: Where Will the Money Come From?
September 8, 2015
By Wylie Spicer, at McInnes Cooper
The United Nations Convention on the Law of the Sea requires parties, of which Canada is one, to make payments in respect of oil production on their continental shelves beyond 200 miles. Canada may be the first to make these required payments – anticipated to be millions of dollars annually. In this SPP Research Paper published by the University of Calgary’s The School of Public Policy, author and McInnes Cooper Legal Counsel Wylie Spicer QC examines the legal basis on which Canada could be on the hook for millions for a tax on Canada’s offshore oil and gas reserves under the United Nations Convention on the Law of the Sea, questions where the money to pay it will come from, and examines possible solutions. Read the Wylie’s paper, The Law of the Sea Treaty and International Payments: Where Will the Money Come From? as published by in SPP Research Papers, Volume 8, Issue 31, September 2015 [PDF].
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