The Tax Justice Network and ITF campaign on multinational tax measures – particularly surrounding the Petroleum Resource Rent Tax (PRRT) – have attracted widespread media interest. Below are the three of the most recent. For more, click here see our media archive.
Crossbenchers demand gas tax fix as report finds LNG revenue 'inadequate'
SYDNEY MORNING HERALD | April 8, 2017
The Turnbull government could improve its budget bottom line by nearly $3 billion a year if offshore petroleum companies were forced to pay a flat royalty on the gas they extract and export, new research commissioned by ITF suggests.
Chevron court case every company is watching
AUSTRALIAN FINANCIAL REVIEW | March 25, 2017
It's been described as the most significant tax case ever litigated in Australia. The Australian Tax Office is pursuing Chevron over a $US2.5 billion ($3.7 billion) inter-company loan. Immediately at stake is roughly $340 million in taxes, penalties and interest on the 2003 loan. But that's not the half of it.
One-third of Queensland's LNG capacity is owned by foreign governments
THE GUARDIAN | April 8, 2017
A third of the capacity of projects in Queensland that liquify coal seam gas for export is owned by foreign governments through state-owned enterprises, an analysis by the Tax Justice Network reveals.
There is no gas crisis in Australia, but there is an attack on our natural assets
THE GUARDIAN | March 27, 2017
The PRRT was designed to capture 40 per cent of the profits companies earn from selling our oil and gas, yet in 2013-14, it earned just 5 per cent of the $29.5bn oil and gas companies earned from those resources. because of the overly generous tax credits. And the tax take is falling.
Petroleum Resource Rent Tax concessions under the microscope ahead of May budget
7:30 REPORT | February 20, 2017
Oil and gas companies could lose some of their generous tax deductions following a review of the Petroleum Resource Rent Tax (PRRT). Featuring Tax Justice Network's Jason Ward.