Tuesday, 21 February 2017
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Hydro power is taxed heavily, with an increase of resource rent tax from 33% to 34.3% in 2017.
Energy producers pay resource rent tax on top of corporate tax. But there is no deduction for the resource rent tax, only a standard deduction of 0.7%, making the effective tax level higher if the hydro power plant has poor results.
While the corporate tax is reduced from 25% to 24% in 2017, the increase of the resource ...