Rehabilitation of Mining Sites: Tax, Accounting and Serving the Environment

Richmond Law & Tax Ltd
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Critical Issues in Environmental Taxation. International and Comparative Perspectives: Volume I, 2003, 1, pp. 241 - 253
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Historically, taxation policy has been used by the Australian Federal Government 10 encourage environmental responsibility in the natural resources industry. These taxation policies are consistent with a recent DECO' report (the DECO 2001 Report] which urges the US!! of environmentally related taxes by member countries to "provide an incentive to polluters to modify their production and consumption behaviour" Whilst the DECO recognizes a range of economic instruments, such as "tradable emission permits ... performance bonds, non-compliance fees",3 in this paper, we consider taxation policies for companies specifically related to rehabilitation of mining sites. These policies have manifested into fiscal instruments in the nature of tax concessions but are often referred to as tax expenditures, The effectiveness of such fiscal instruments in complementing environmental policies can be measured according to the criteria provided by the DECOin an earlier report, Taxation and the Enviromnent Complementary Policies (the DECO 1993 Report).i In that report the OECD points out that tax policies and environmental policies ought to be "mutually reinforcing".
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