Tax Justice Network accuses Malcolm Turnbull’s government of hypocrisy on petroleum resource rent tax

The Tax Justice Network has attacked the Turnbull government’s review of the petroleum resource rent tax (PRRT), saying its recommendation to not overhaul the tax for existing oil and gas projects is a capitulation to the industry.

It has also accused the government of hypocrisy for taking the oil and gas industry’s warnings about sovereign risk seriously while simultaneously proposing a surprise 0.06% levy on Australia’s major banks.

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