‘Adani’s Australia ventures have tax haven ties’

‘Adani’s Australia ventures have tax haven ties’

FPJ BureauUpdated: Thursday, May 30, 2019, 03:10 AM IST
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Canberra : An investigation by the Australian Broadcasting Corporation (ABC) has alleged that the Adani Group’s Australian operations have “previously unknown tax haven ties in the British Virgin Islands”. ABC’s ‘Four Corners’ programme has uncovered the British Virgin Islands links of Gautam Adani’s Australian ventures.

  The Adani Group has promised a $22 billion windfall in taxes and mining royalty payments for Australia over the life of the Carmichael coal mine it has been given approval to build in Queensland. ABC quoted experts as saying that the “opaque web of companies and trusts” behind Adani’s Australian assets gives it ample opportunity to minimise the tax it pays. It was previously thought that Atulya Resources was the ultimate holding company.

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