Australian mining companies win tax concessions
According to Business Spectator, Australia's biggest mining companies have won a major concession over the planned new 30 per cent Mineral Resource Rent Tax (MRRT), with the government agreeing to refund any future increases in state-based royalty charges.
Treasurer Wayne Swan said the government agreed with the key recommendation of a mining tax transitional policy group, headed by Resources Minister Martin Ferguson and former BHP Billiton chairman Don Argus.