BHP Billiton faces back taxes bill
Tuesday, 4 December 2007
Source: International Tax Review
BHP Billiton has been hit with a $643 million bill for Australian tax arrears for the 2000 to 2006 tax years
The natural resources company said the demand is made up of $336 million in tax and $307 million in interest and penalties, and concerns the capital allowances the group claimed in relation to Boodarie Iron (Australia), a subsidiary that closed down in August 2005. BHP said it is entitled to the relief and intended to contest the Australia Taxation Office's opinion.
SG comment: There is a more detailed statement of this on the Australian BHP Billiton website within the Investors and Media section.
BHP Billiton has been hit with a $643 million bill for Australian tax arrears for the 2000 to 2006 tax years
The natural resources company said the demand is made up of $336 million in tax and $307 million in interest and penalties, and concerns the capital allowances the group claimed in relation to Boodarie Iron (Australia), a subsidiary that closed down in August 2005. BHP said it is entitled to the relief and intended to contest the Australia Taxation Office's opinion.
SG comment: There is a more detailed statement of this on the Australian BHP Billiton website within the Investors and Media section.
Labels: company news, FTSE 100, tax news
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