Adani to pay no company tax despite $1bn revenue from Queensland coalmine

6 hours ago

Indian conglomerate offsets earnings from Carmichael mine to report $340.6m loss, after promising billions in taxes and royalties

Indian conglomerate Adani will pay no company tax despite generating almost $1bn in revenue from coal mining in Queensland over the past year.

Financial accounts show the Carmichael thermal coal operations used large costs – including production and related party logistics expenses – to offset its $963.5m revenue in the 12 months to 31 March. This resulted in a recorded $340.6m loss for the year, erasing it’s tax bill.

Continue reading...
Click here to Read More
Previous Article
FIFA’s Infantino scraps controversial World Cup private investment plan
Next Article
Iran war live: Trump threatens strikes, Iran says it has a plan to respond

Related World Updates:

Are you sure? You want to delete this comment..! Remove Cancel

Comments (0)

    Leave a comment