Government of Australian will re-evaluate tax imposed to by mine company activity of mine exploration in Australian. Regulation observer of this tax will be expected able to replace royalty to be paid by mining exploration company.

Change of regulation of tax for mining exploration company expected able to improve repair mining sector in Australian. Details of the changed system are yet to be released but could see coal and iron ore profits being taxed in a similar way to the petroleum resource rent tax, possibly in exchange for a reduction or abolition of state royalties.

“A resource rent tax is generally viewed as more efficient than a royalty tax because it is responsive to changes in prices and costs and better rewards investment in marginal projects,” the newspaper reported on Tuesday.

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