Tax commissioner Chris Jordan is confident of more settlements with resources giants, ExxonMobil says it remains confident in its use of related party loans
Exxon says: “We are confident that the pricing on our loans is on an arm’s-length basis in accordance with Australian tax law.”on Monday that “there will be more of them”, and while he did not name specific companies, the ATO is deep in negotiations with Exxon over its tax payments over the past decade.
“We are currently reviewing the ATO’s position and determining appropriate steps to respond to and resolve the claims,” he said. Despite their settlements with the ATO, both BHP and Rio plan to continue with their Singapore hubs and others like South32 have also since established Singapore marketing hubs.Minerals Council of Australia chief executive Tania Constable was disappointed by the tone of Chris Jordan’s comments.
Clancy Moore is a director of tax transparency organisation the Publish What You Pay Coalition, and will next month replace Serena Lillywhite as chief executive of Transparency International Australia.Mr Moore said the Albanese government could adopt a simple code that would improve transparency across the resources sector.
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