He said BHP had failed to mention those audits when the mining tax debate was in full swing. “Some of us in this place remember 2010 and the mining tax debate,” he said. “The other was the claim that the government’s proposed resource rent tax would destroy their operations, close projects and kill jobs. While BHP paid $1bn in top-up taxes, these taxes only applied to 58% of the profit generated through the Singapore marketing hub. “Our Australian adjusted effective tax rate, inclusive of corporate tax, petroleum resource rent tax, and royalties, in full year 2016 was approximately 57%.

Source: The Guardian October 12, 2016 08:03 UTC