The Treasurer announced a review into the design and operation of the Petroleum Resource Rent Tax (PRRT) in November 2016. The review was launched to make sure the Australian's are getting a fair return for their resources, and to make recommendations to the government on future tax, excise and royalties arrangements on Australia's finite oil and gas resources.
The evidence is now in. Australia's PRRT is giving away it's resources to multinationals for free.
The case for reform of the taxes covering oil and gas multinationals has never been clearer. With the government handing down the budget in May, we have a window to pressure both our local MPs and the Treasurer Scott Morrison to ensure that multinational corporations pay their fair share for our natural resources, and that Australia reaps the benefits from the coming gas boom.
Tax Justice Network Australia
The Tax Justice Network Australia is the Australian branch of the Tax Justice Network (TJN) and the Global Alliance for Tax Justice. TJN is an independent organisation launched in the British Houses of Parliament in March 2003. It is dedicated to high-level research, analysis and advocacy in the field of tax and regulation.
INTERNATIONAL TRANSPORT WORKERS' FEDERATION
The International Transport Workers’ Federation (ITF) is a global union federation of approximately 700 transport workers' trade unions, representing more than 4.5 million transport workers from 150 countries. The ITF Sydney Campaigns Office has been at the forefront of exposing Chevron's aggressive tax avoidance, and has led efforts within the Tax Justice Network Australia to reform Australia’s Petroleum Resource Rent Tax.