Government launches inquiry into missing tax billions from oil and gas sector

By Heath Aston
Updated November 30 2016 - 9:08pm, first published 8:18pm
Treasurer Scott Morrison announces an inquiry into the PRRT at Parliament House in on Wednesday.  Photo: Alex Ellinghausen
Treasurer Scott Morrison announces an inquiry into the PRRT at Parliament House in on Wednesday. Photo: Alex Ellinghausen
The Asia Excellence carries the first LNG cargo shipped from Chevron's Gorgon LNG project in Western Australia. Photo: Supplied
The Asia Excellence carries the first LNG cargo shipped from Chevron's Gorgon LNG project in Western Australia. Photo: Supplied

The Turnbull government has acknowledged for the first time that Australia is failing to secure a fair share of revenue from oil and gas companies, with Treasurer Scott Morrison calling a review into the tax scheme governing offshore projects.

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