Pangalanes Canal Project Confirms Moroccos Willingness to Share Expertise with Africa

Antananarivo – Minister of Foreign Affairs and Cooperation, Salaheddine Mezouar , said, on Monday in Antananarivo, that the announcement of the Canal des Pangalanes project confirms the willingness of Morocco to share its expertise with African countries.“The announcement of the Canal des Pangalanes project, like the one of Cocody shows that this sharing of expertise as desired by HM the King is proving itself,” he told MAP following the signing of 22 agreements of bilateral cooperation, under the chairmanship of King Mohammed VI and Malagasy president, Hery Rajaonarimampianina.He also said that by signing these agreements, the regulatory framework that governs bilateral relations is completed. “This is a comprehensive framework that gives new impetus to relations between the two countries,” he said, stressing the importance of HM the King’s visit to Madagascar in promoting South-South partnership.

Australian mining and corporate tax the official evidence

first_imgBrendan Pearson, Chief Executive, Minerals Council of Australia says that new research by Professor Sinclair Davidson of RMIT demonstrates that mining pays a substantial amount of corporate tax and does so at a high effective tax rate.“Extravagant claims are no substitute for hard evidence.  And Professor Davidson’s analysis of Australian Tax Office (ATO) data debunks some of the myths currently in circulation.  He cites in this context the claim by former Treasurer Wayne Swan that the industry’s effective tax rate is just 15%.Professor Davidson finds that:“The mining industry pays a lot of tax and pays close to the statutory rate of 30% of its taxable income. The view that the mining industry is under-taxed is not supported by data published by the ATO – the government agency that administers the tax system and actually collects the tax revenue.”The data show that mining paid A$13.6 billion in net company tax in 2012-13.  Despite accounting for less than 1% of liable companies, mining paid more than 21% of corporate tax (second after the financial industry).  Professor Davidson finds that since 2000-01 net company tax receipts from mining have increased 7.8 times, while overall net company tax receipts have risen just 2.4 times.Professor Davidson’s paper shows that mining pays a higher average effective tax rate than the Australian average, by a significant margin.  “The argument that mining tax rates are lower than that of most (or even many) other industries is simply not true’, Professor Davidson concludes.Download the publication here: read more