Iron Ore Falls Raising Doubts on Australian Tax

Reuters reported accountants say Australia’s mining profits tax could  will raise less than the A$11 billion Prime Minister Julia Gillard is promising.

As quoted in the market news:

Mega-miners Xstrata, BHP Billiton and Rio Tinto , last year agreed with Gillard to pay the Minerals Resource Rent Tax only if the tax was cut to 30 percent from 40 percent and limited to profits from iron ore and coal mining.

Click here to read the full Reuters report.