More than three years after starting coal extraction at its Carmichael mine in Queensland, Indian conglomerate Adani has paid no corporate tax in Australia, and experts suggest it may never do so. Despite pledging over a decade ago to contribute £22bn in taxes and royalties, the company's Australian operations report annual losses due to substantial related-party payments.
Guardian Australia analysis reveals that Adani's Abbot Point port, operated under a 99-year lease signed in 2011, has paid tax on port income only once in ten years, amounting to less than £4m. The Carmichael mine, rail and port operations have been politically divisive, with critics questioning both environmental and economic benefits.
Jason Ward, principal analyst at the Centre for International Corporate Tax Accountability and Research, described the level of related-party transactions as 'pretty unprecedented'. He stated: 'My judgment on this is that this company is absolutely set up to never make taxable profit... this company will never make a profit on paper and will never pay a cent of tax.'
Adani's most recent accounts for the year ending 31 March 2025 show £1.27bn in revenue, but after expenses including interest and lease payments to related parties, a loss of £461.7m is recorded, resulting in no tax payable. Adani Mining's immediate parent is in Singapore, with ultimate parent Adani Enterprises in India.
A Bravus Mining and Resources spokesperson said the company complies with the tax system, which taxes profits after deductions. They noted that corporate tax is only one part of the tax system, highlighting millions paid in GST, payroll tax, superannuation and royalties in FY25. The accounts show Adani Mining paid a £78.6m royalty in the last reporting period.
