Australia's $20 Billion Missed Opportunity Shows Tax Problem
- Nation set to match Qatar as world’s largest LNG exporter
- Tax revenues will be a mere fraction of what Qatar takes in
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Australia is on track to match Qatar as the world’s biggest liquefied natural gas exporter next year. The boost to the budget bottom line? Virtually nil.
While the Persian Gulf nation is forecast to rake in as much as A$26.6 billion ($20.1 billion) in fiscal 2020 from taxes on the fuel, Australia is set to reap a paltry A$800 million, according to analysis by the Tax Justice Network’s Australian office.