Chevron appeal in Federal Court against multimillion-dollar tax bill kicks off

Chevron appeal in Federal Court against multimillion-dollar tax bill kicks off

SYDNEY MORNING HERALD

An appeal against a multimillion dollar tax bill owed by multinational oil giant Chevron is taking place, and will have global implications for the way tax paid by large companies is assessed. Chevron recently lost a landmark profit-shifting case in the Federal Court that left it with a tax bill of about $300 million.

Taxpayers to pay for oil spill clean-ups under petroleum resource rent tax

Taxpayers to pay for oil spill clean-ups under petroleum resource rent tax

THE GUARDIAN

Australian taxpayers will be forced to subsidise the clean-up costs of oil spills in the Great Australian Bight thanks to the terms of the controversial petroleum resource rent tax. Treasury officials have confirmed that oil companies would be able to claim a tax deduction under the PRRT for expenses incurred cleaning up oil spills.

PRRT concessions under the microscope ahead of May budget

PRRT concessions under the microscope ahead of May budget

ABC NEWS

Oil and gas companies could lose some of their generous tax deductions following a review of the Petroleum Resource Rent Tax (PRRT). Amid concerns that revenue from the PRRT has flatlined at just over $800 million a year — less than half its peak of more than $2 billion in 2000-01 — there is new focus on the tax treatment of project costs.