business / news / / ABC (Australian Broadcasting Corporation)
The expansion of Chevron's Gorgon project has received environmental approval.
Chevron's Gorgon expansion was approved before a Senate inquiry into gas taxation began.
KEY POINTS
- Chevron only started paying PRRT last year after a government change forced a payment floor.
- The PRRT lets companies indefinitely deduct expenses with interest before paying federal resource tax.
- A proposed 25% flat tax could drive effective tax rates above 80% for some gas firms.
COMPANIES
Summarized by Newsio from ABC (Australian Broadcasting Corporation). How we summarize →