Adani to pay no company tax despite $1bn revenue from Queensland coalmine
•Adani reported a $340.6 million loss despite nearly $1 billion in revenue from its Queensland coalmine.
•The company's losses were attributed to high production and logistics costs that offset its earnings.
•As a result, Adani will not pay any corporate taxes this year, despite previous commitments to pay billions in taxes and royalties.
المصدر: The Guardian World | Source: The Guardian WorldIndian conglomerate offsets earnings from Carmichael mine to report $340.6m loss, after promising billions in taxes and royalties
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Indian conglomerate Adani will pay no company tax despite generating almost $1bn in revenue from coal mining in Queensland over the past year.
Financial accounts show the Carmichael thermal coal operations used large costs – including production and related party logistics expenses – to offset its $963.5m revenue in the 12 months to 31 March. This resulted in a recorded $340.6m loss for the year, erasing it’s tax bill.
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→Adani reported a $340.6 million loss despite nearly $1 billion in revenue from its Queensland coalmine.
→The company's losses were attributed to high production and logistics costs that offset its earnings.
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