It also raised the resource tax on these elements by as much as 150 times.
China's largest offshore oil-and-gas producer Cnooc added 3.6% after its 2012 net profit fell 9.3% on-year to 63.69 billion yuan, due to rising operating costs and higher resource tax expenses.
"Minerals Resource Rent Tax (MRRT) is a profits-based tax that raises more revenue when profits are higher and less when they are lower, " he explained.
Julia Gillard, the prime minister of Australia, scored a political victory when the lower house of parliament passed the controversial Minerals Resource Rent Tax, which will subject mining companies to a higher levy on annual profits.
That design will make it a well-thumbed resource in the upcoming tax reform debate.
Now, any tax break for natural resource extraction is in itself is a point of contention among environmentalists, myself included, but I will leave those arguments aside for now and focus on the purely economic issue with this tax deduction.
According to the 2010 tax review, the new resource levy should replace existing royalties that miners pay to state governments.
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Indonesian officials detailed additional plans to tax mineral exports from the resource-rich country, compounding worries that government policies could slow the flow of investment.
And contrary to some renewables, this resource survives on its own merit without the benefit of tax credits.
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This is best resolved by the vigorous application of tight, cash-limited, tax-financed global budgets and improvements in resource allocation by doctors and managers.
"Revenue from this tax would be controlled by government and thus the resource would not be directly linked back to universities, " said the 1994 Group, a coalition of research-intensive universities.
Our hope is that you consider this blog a resource in your journey to become fully educated about the financial, tax and other implications of your divorce.
Dividend tax rates are especially important to many companies that pay big dividends, such as utilities, resource companies and some tech companies.
Meanwhile, much of the profits from resource exploitation leave the continent entirely in the hands of foreign-owned companies which pay low rates of tax.
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