had its external auditor verify that its level of direct taxes paid in Australia is much higher than the government has been claiming in its attacks on the industry.and
effective tax in the past 10 years has averaged more than 35 per cent - or $20 billion in corporate taxes and royalties.What they didnt say was that royalties are deductible as an expense.
A quick look at their financials reveals
2009 Pre Tax Profit 10,295.46
2009 Tax Expense (-2,213.18) = 21%
2008 Pre Tax Profit 24,238.24
2008 Tax Expense (-6,826.28) = 28%
2007 Pre Tax Profit 11,409.94
2007 Tax Expense (-2,475.05) = 22%
