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Interest charged should be a case of double dipping
DEAR EDITOR,
I am interested in seeing broad headings of items which are claimed for expenses.
In particular, I would like to know whether interest paid by the oil companies for money borrowed to pay for the expenses is an item for expenses claimed.
Normally, if someone has spent his own money in an investment, he would expect a reasonable return on the investment.
If he borrows money to invest, he cannot claim both interest paid on the borrowed money as well as a reasonable rate of return, because this would be double counting. From his reasonable rate of return, he will be able to pay interest on the money borrowed to invest and will be left with a residue which will be his net return (profit).
Sincerely,
Dr. Nat Khublall
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