Correction about Glencore Coal claim on leaflet
I have received a letter from Glencore (new owners of Xstrata Coal). A leaflet I printed entitled “We Need To Talk About Coal” contains the statement that “Australia’s biggest coal miner Glencore paid $0 tax on $15 billion revenue”.
This statement was based on a story published by The Sydney Morning Herald, The Age and The Canberra Times, by senior business journalist Michael West entitled: “Glencore tax bill on $15b income: zip, zilch, zero”.
Glencore has since disputed the basis of the article’s claim and Fairfax Media has now published the following note at the top of the article:
“Recent reports, including “Mining company paid no tax” (June 27), said that Glencore had not paid income tax for the past three years. This is incorrect. The company has stated that it paid more than $400 million in corporate tax in Australia over this period. Fairfax Media also wishes to clarify that the $15 billion presented as taxable “income” in these stories related to revenue and not taxable profits.”
I therefore wish to make community members who have seen this flyer aware of this note in relation to the statement on my flyer and have removed this claim from the We Need To Talk About Coal website.
I continue to be concerned about the actions of corporations to minimise the amount of tax paid in Australia and support the move by my federal colleagues in the Australian Senate to establish a Senate Inquiry into corporate tax evasion.