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

Per The Guardian, Adani, an Indian conglomerate, will pay no company tax despite generating nearly one billion dollars in revenue from its Queensland coalmine in the past year. The Carmichael operation recorded nine hundred sixty-three point five million dollars in revenue but reported a three hundred forty point six million dollar loss after accounting for production costs and related-party logistics expenses, erasing its tax bill. The outcome contradicts earlier promises of billions in taxes and royalties.

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