That's right.
In simplified terms there is a new 40% tax applied to pre tax profits.
What is then left over is taxed at the company tax rate!!
If Bolivia or Venezuela or an African nation was doing this we'd all be screaming out about the political risk and appropriation/nationalisation of mining projects.
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super tax 40%, page-2
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MD - Shanthar Pathmanathan, Geologist - David Trabert
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