TaxCorporate TaxAussie PM holds firm on mining supertax

Aussie PM holds firm on mining supertax

Kevin Rudd meets Aussie mining executives in the wake of protests and takes a hard line on proposed 40% tax on extractive companies

Kevin Rudd, the Australian Prime Minister has reinforced proposals to
hit
extractive companies
, including FTSE 100 heavyweights Rio Tinto and BHP
Billiton, with a 40% tax on profits.

The proposals have been met with outcry from the companies targeted and Mr
Rudd had met mining executives in the wake of the protests.

“They were forthright in putting their views and their concerns about the
super profits tax that we’re proposing,” Mr Rudd told an Australian radio
programme.

“I was equally forthright in explaining why we believe this is necessary.”

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