China hints at imposing mining super-tax
Friday 07 May 2010
The spectre of other resources-rich countries joining Australia in imposing extra taxes on the mining industry was raised again yesterday when an influential state-run newspaper in China urged the authorities in Beijing to impose a similar levy.
Mining giants such as Rio Tinto and Xstrata have attacked the proposals by the Canberra government, which says it aims to impose the 40 per cent so-called Henry tax from 2012. The English language China Daily said that China should charge a similar levy.
"This is perhaps the main danger of the Henry tax: the fact that this is giving and reviving ideas to other governments," said Christian Georges, an analyst at Olive Tree Securities.
Rio Tinto reaffirmed yesterday that it was reviewing its operations in Australia, but denied reports that it has shelved projects. "We've got our projects on hold while we try to understand the ramifications of a 40 per cent increase in taxes," said Sam Walsh, the Anglo-Australian group's head of iron ore.
- 1 If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
- 2 Moscow voted the world's unfriendliest city
- 3 Idris Elba is ‘too street’ to play 007, says James Bond author
- 4 Pansexual: What is it - and when did the term gain popularity?
- 5 I'm pansexual – here are the five biggest misconceptions about my sexuality
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
iJobs Money & Business
£20000 - £25000 per annum: Recruitment Genius: We are a vibrant and establishe...
£15000 - £20000 per annum: Recruitment Genius: An experienced Repayments Advis...
£25000 - £30000 per annum: Recruitment Genius: This leading provider of financ...
£20000 - £25000 per annum + competitive: SThree: Are you looking to take your ...