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Australia announces changes to the Petroleum Resource Rent Tax

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Australia announces changes to the Petroleum Resource Rent Tax

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Natural Gas News
Australia announces changes to the Petroleum Resource Rent Tax

Summary

The changes would mean the offshore LNG industry pays more tax. by: Shardul Sharma

The Australian government will introduce changes to the Petroleum Resource Rent Tax (PRRT) which would mean the offshore LNG industry pays more tax, treasurer Jim Chalmers said on May 7 in a statement. He said that the changes “will provide industry and investors po...

Related Knowledge Center: ENERGY BASICS: fossil fuels

State of Play

Fossil fuels — coal, oil and natural gas, primarily — remain the dominant energy sources for much of the world, with their accompanying infrastructure of mines, drilling and production wells, pipelines and various forms of transportation. But they have become more problematic as governments struggle to address climate change and pivot to energy sources that do not result in carbon dioxide emissions.

More informationabout ENERGY BASICS: fossil fuels