Chevron fined millions for tax scheme

Damien Carrick interviews Jason Ward, ITF
24 November 2015

At Senate Committee on Corporate Tax Avoidance hearings last week, the main focus was on US energy giant Chevron which is developing the Gorgon and Wheatstone LNG projects on the coast of Western Australia.

It's the country's largest single capital investment. Members of the committee on both sides of politics were blistering in their criticism of the company's use of cross US and Australian transactions to 'minimise tax'.

Last month, the Federal Court ordered Chevron to pay the Australian Tax office 269 million dollars. A few days ago Chevron announced it is appealing the ruling.

A report Piping Profits out of Australia produced by the International Transport Workers Federation believes there should be a global audit of Chevron's tax schemes.

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Jason Ward, Senior global strategist with the International Transport Workers Federation and author of a report Chevron's Tax Schemes: Piping Profits out of Australia