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High taxes revealed amid losses

THE AUSTRALIAN Petroleum Production and Exploration Association says its 29th annual survey shows that despite a steep drop in revenue it is still paying high tax, though its figures also show that tax as a percentage of sales revenue has dropped steeply over three decades.

High taxes revealed amid losses

Industry recorded a loss of $4.5 billion in the 2015/2016 period compared with a loss of $600 million for the 2014/2015 period: this reflects the fall of the oil price that began in 2014 and a peak in...

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