Treasurer Scott Morrison announces petroleum tax inquiry

ABC NEWS
Sue Lannin and Michael Janda
30 November 2016

The Federal Government will review Australia's petroleum taxes amid a plunge in oil and gas revenue and a crackdown on multinational tax avoidance.

Treasurer Scott Morrison said revenues from oil and gas taxes have plummeted in recent years, and the review would examine why the fall has been so great.

The review will be led by independent expert Michael Callaghan, working with the Treasury Department. He will report back to the Government by April next year with recommendations for changes to the PRRT.

Mr Morrison said the timing of the inquiry ensures it can be considered in the 2017-18 budget process.

> Read more: http://www.abc.net.au/news/2016-11-30/treasurer-morrison-announces-prrt-review/8078310