Taxes, royalties take half of miners’ profits

Original article by Paul Garvey
The Australian – Page: 13 & 14 : 9-Jan-18

The Minerals Council of Australia’s interim CEO David Byers says a new survey by Deloitte Access Economics demonstrates the need for corporate tax reform. The survey, which was undertaken on behalf of the MCA, shows that taxes and royalties accounted for 51 per cent of the profits of Australian mining companies in fiscal 2016, compared with the nation’s company tax rate of 30 per cent. Byers adds that the survey refutes the widely-held view that mining companies do not pay much tax.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, DELOITTE ACCESS ECONOMICS PTY LTD

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