A senior official of International Monetary Fund has questioned the claims of the mining industry on the implications of the Federal Government's proposed super profits tax.

Philip Daniel, the deputy head of the IMF's tax policy division, told The Age that claims made by mining leaders are misleading as it only focuses on the headline tax rate created by the 40 per cent levy.

Mr. Daniel remarked that the miners have failed to consider other concession to miners, including non-tax charges in other jurisdictions and are only focusing on the impact of the companies' profitability and competitiveness.

Addressing the delegates at the Institute of Chartered Accountants conference in Sydney, he said the headline rate is not actually extraordinary and the miners' claims over the impact on competitiveness did not take into consideration the government's vow to compensate the mining companies for 40 per cent losses on failed projects through a tax credit.

Mr. Daniel said the tax levy was designed to respond to any sudden circumstances and the impact is “known and certain for companies in advance.”

He predicted that miners will not stop opposing the resources super profits tax because they are expected to earn more than the “required, risk inclusive rate of return” or a super profit.