Australian Government and mining companies to negotiate on mining tax constructive consultations
2010-11-22 8:06:21 Source: Network Information Center,

the Australian Government and the miners of the mining profits tax for up to four months of discussions has ended. Australian Resources Minister Martin Ferguson said the negotiations "with the construction meaning, "after reports that the talks the two sides have differences in terms of tax payments.

The Australian Government has been controversial with the mining company windfall profits tax levied in the form of negotiations, it is estimated the introduction of the first two years the Australian Government will bring 7.4 billion Australian dollars (73 billion U.S. dollars) in tax revenue, and help them in the 2012/13 financial annual budget surplus.

"Policy transition team will continue to consider the views and consultations on the information provided, and intends to submit before the end of a final report of the Treasurer," Ferguson said in a statement Friday.

Ferguson said earlier that a discussion of the draft will be published next year, involving producers of coal and iron ore 30% tax adjustment program, which will give mining companies the opportunity once again to the final form of the new tax views.

However, the Government will not change the lease of mineral resources tax (MRRT) key details of the program. The program stems from the Government in July with the BHP Billiton, Rio Tinto and Xstrata agreement.

Ferguson said on Thursday that since April this year, Australian mining companies for mineral and energy sector investment rose 21% to a record 1,329 billion Australian dollars, indicating that it does not impact on the tax plan disturbed.

"The data clearly shows that investors continue to be in Australia as a major investment destination," he said.