Chevron's tax whinge doesn't stack up

SYDNEY MORNING HERALD
Michael West
7 June 2016

Chevron Australia boss Roy  Krzywosinski was complaining two weeks ago that taxes were too high in Australia. It was a pretty suave call from  Krzywosinski. The latest financial statements for Chevron Australia Holdings show the company not only managed to avoid paying tax last year but it even pulled off a refund from the Tax Office.

The Tax Office wrote the secretive oil giant a cheque  for $5.7 million last year. This must be galling. The ATO is locked in a high-stakes slugfest in the courts claiming Chevron owes it $322 million in unpaid taxes. The latest financial statements for Chevron Australia show the company even pulled off a refund from the tax office. 

Chevron's operating income was $3.2 billion last year. Yet the interesting thing about these financial statements is the towering $35 billion in related-party loans from Chevron's US parent.

> Read more: http://www.smh.com.au/business/comment-and-analysis/chevrons-tax-whinge-doesnt-stack-up-20150607-ghik39.html