BHP settles huge Australia tax bill

Wednesday, November 21, 2018

Print this page Email A Friend!

SYDNEY, Australia (AFP) — Mining giant BHP on Monday settled a long-running tax dispute with Australian authorities for AUS$529 million ($387 million), as the country pursues global firms shifting profits offshore to minimise liabilities.

The Australian Taxation Office has been investigating multinationals for alleged avoidance, such as through transferring billions of US dollars in profits offshore to countries like Singapore.

The world's biggest miner said it had reached the settlement with the ATO “with no admission of tax avoidance”.

“This is an important agreement and we are pleased to resolve this longstanding matter,” the Anglo-Australian firm's Chief Financial Officer Peter Beaven said in a statement.

The world's second-largest miner Rio Tinto is also facing a large bill from the ATO over its tax arrangements, and has said it would challenge the assessment.

Canberra has sought to crack down on tax avoidance by multinationals by introducing new laws, including stronger protection for whistleblowers and harsher penalties for failure to meet compliance or disclosure requirements.

Companies including Apple, Google and BHP were grilled on their tax structures at parliamentary hearings in 2015.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon