The Japanese Ambassador to Australia has hit out at Queensland’s controversial coal royalty tax, saying it has “damaged trust” and risks future investments.
The Queensland state government has recently increased royalty taxes after a 10-year freeze, which has raised concerns for many companies about the cost of doing business in the state.
Queensland Treasurer Cameron Dick has met with Japanese mining companies in an attempt to smooth things over, however Japanese Ambassador Shingo Yamagami says the move still sent “shockwaves through Tokyo”.
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