More than a third of big companies paid no tax in 2014-15, ATO reports

THE GUARDIAN
Gareth Hutchens
9 December 2016

More than 35% of the largest public companies and multinational entities paid no tax in Australia in the most recent financial year on record, according to the second transparency report published by the Australian Taxation Office

The Tax Justice Network, which has been leading a push to overhaul the PRRT, says the data shows multinational oil companies are exploiting and exporting Australia’s natural resources for free.

“Just two companies, BHP and Exxon, paid 77% of the total PRRT payments, which appear to be from Bass Strait oil production,” spokesman Jason Ward said on Friday.

“Neither Shell nor BP made any PRRT payments, while fellow oil and gas giants Exxon and Chevron paid no corporate tax.

“For the second year running, the ATO data reveals that Chevron, Australia’s largest foreign investor and partner in the North West Shelf project, made no corporate income tax payments or PRRT payments,.”

> Read more: http://www.theguardian.com/australia-news/2016/dec/09/more-than-a-third-of-big-companies-paid-no-tax-in-2014-15-ato-reports