Australian mining companies pay taxes of A$30.6 billion in the 2017/18 fiscal year

According to a report by MiningWEekly, a recentreport by Deloitte Access Economics shows that in the 2017/18 fiscal year,Australian mining companies paid a total of $30.6 billion in corporate taxesand royalties.

According to the report prepared by the AustralianMining Council (MCA), in the 2017/18 fiscal year, mining companies paid a totalof $18.6 billion in corporate taxes, even higher than the $15.4 billion in the2011/12 fiscal year. In addition, the mining company paid a $12 billionroyalties to the government in the 2017/18 fiscal year, three times that of 10years ago.

Mining Council President Tanya ·Tania Constable's data show that from the 2007/8 fiscal year to the 2017/18 fiscalyear, mining companies paid corporate taxes and royalties totaling 224.8billion Australian dollars. Earlier this week, MCA has called on the governmentto consider tax reforms in order to maintain Australia as a foreign investmentdestination. At present, the Australian company tax rate is significantlyhigher than other G7 countries.