That ol’ black magic...
“According to an article in the AFR two of the biggest winners from the booming lithium resource trade are under investigation by the ATO.
As of March 2018
The Australian Tax Office is apparently investigating the US company Albemarle and the Chinese company Tianqi because they allegedly may have underpaid for lithium from a local subsidiary.
Many readers will know, from all of the political commentary, that Australia has one of the highest corporate tax rates in the world. The higher the revenue and profit generated by the local subsidiary in Australia, the more earnings that could be ‘lost’ to tax to the ATO by a company. So, ideally, a foreign company would want Australian profit to be as low as legally possible.
Windfield Holdings is the business that owns the world’s largest producer of lithium-rich spodumene rock. Tianqi owns 51% of Windfield and Albemarie owns 49%.”
https://www.********.au/2018/03/20/lithium-miners-fall-on-ato-investigation/
https://www.prnewswire.com/news-rel...ees-to-acquire-talison-lithium-182362501.html
