Aruba says hopes for Valero tax deal OK soon

The long running dispute has been seen as a roadblock to Valero sale of the refinery, idled in July, which had provided a third of the Caribbean nation gross domestic product.The government of Prime Minister Mike Eman has not yet requested parliamentary approval of Canada Goose sale the agreement with Valero, said government spokesman canada goose outlet vancouver Lisander Besselink in a telephone interview.Valero revealed on Thursday a deal with Eman government to settle the dispute.With January nearly finished, Besselink said it will probably Canada Goose Coats On Sale be canada goose uk black friday sometime in February before the parliament can Canada Goose Jackets consider the deal.soon as the parliament approves the agreement, uk canada goose outlet we get the amount Valero has agreed to pay, he said.Valero said on Thursday it Canada Goose Parka will pay about $130 million once parliament grants approval. The company has also agreed to keep workers on the refinery payroll until June 1.That canada goose uk outlet part of the agreement will provide time for Valero to arrange a sale of the 235,000 barrel per day (bpd) refinery, Besselink said. The Chinese energy giant has said the company would not consider buying the refinery before the tax dispute was resolved.Besselink declined to discuss how soon an agreement might canada goose black friday sale be reached with any potential buyer. He referred questions about talks with potential suitors to Valero.Valero has refused to identify any canada goose factory sale would be buyers and has only said discussions for a sale canada goose coats are underway.Additionally, as part of the deal, Valero will pay at least $10 million per year in the following years to Canada Goose online the Aruban government. It came with a six year exemption canada goose clearance sale from certain taxes.The government of Nelson Oduber adopted a new tax on the refinery in 2007, at Canada Goose Online a time when refiners were reaping record profits. state and local goverments took similar steps to raise taxes canada goose store on refineries during the same time period.Since 2007 Valero has claimed canada goose uk shop the new tax violated the existing exemption.Aruban voters ousted Oduber in September in favor of Eman, who cheap canada goose uk promised a canadian goose jacket favorable resolution to the tax dispute with Valero, the island largest employer.Valero cheap Canada Goose idled the Aruba refinery in July and called the shutdown indefinite in August, but https://www.canadagooseparkasoutlet.ca has kept employees on the payroll.Independet refiner Valero has been hit hard in the past two years, first buy canada goose jacket by skyrocketing supply costs as crude oil prices Canada Goose Outlet hit buy canada goose jacket cheap record highs in 2008 and then when the deepening recession crushed demand in 2009.In the third quarter of 2009, Valero said it had set aside $140 million to put toward an eventual settlement. The tax bill was estimated to exceed $200 uk canada goose million. The tax was equal to 1 percent of the refinery exports and 3 percent of on island sales.At one time, the refinery was thought to a have a pricetag between $1.5 billion and $2 billion. Refinery brokers have said the plant will canada goose need billions more in investments so it canada goose clearance can produce finished products. Valero has invested $500 million canada goose coats on sale in upgrades since 2004. (Editing by David Gregorio).