Adani to pay no company tax despite $1bn revenue from Queensland coalmine

By Jonathan Barrett Business editor · The Guardian World

Indian conglomerate offsets earnings from Carmichael mine to report $340.6m loss, after promising billions in taxes and royalties Get our breaking news email , free app or daily news podcast 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. Continue reading...