asked the Minister for Energy the total amount of royalties paid to the Exchequer from the Tara Mines operation in Navan, for each year since the commencement of mining, to the latest date for which figures are available.
Written Answers. - Tara Mines.
506.
The State mining lease granted to Tara Mines Ltd. on 19 September 1975 provides for the payment of a royalty of 4½ per cent of the profits of the company as assessed by the Revenue Commissioners for purposes of corporation tax. Accounts have been provided to the Revenue Commissioners for the years up to 1982, but the profits of the company for tax purposes since trading commenced on 1 January 1978 have not yet been finally agreed. Therefore, no royalty payments have been made as yet by the company. It is clear, however, that because of the poor operational, industrial relations problems, and trading situation of the company in the period little or no liability for royalty arises in respect of the period to the end of 1982. The lease also provides for the payment by the company of dead rent; the amount of £48,000 has been paid to date.