The 142 page Minerals Resource Rent Tax Bill 2011 passed through the House of Representatives on 23 November 2011, commencing on 1 July 2012.
This only leaves around seven months to design, test and roll out major and complex upgrades to corporate tax reporting and compliance systems.
The “double tax” nature of the MRRT requires a major redesign and overhaul of deferred tax calculations and tax accounting systems, which the current commercial tax software packages are ill-equipped to handle.
Lyon Solution Services has the project management, tax and solution design skills you need to keep your Mining Tax under control.