Chevron tax ruling to ‘hit investment’

Original article by Matt Chambers
The Australian – Page: 22 : 3-May-17

Chevron’s chief financial officer, Patricia Yarrington, has told investors in the US that the oil and gas group may appeal a Federal Court of Australia ruling on the tax status of a $A2.5bn inter-company loan. She warned that the ruling will have implications for international transfer pricing guidelines, while it is likely to impact on future investment in Australia. However, Chevron’s Stephen Green has welcomed the findings of a review which recommended that any changes to the Petroleum Resource Rent Tax should not be retrospective.

CORPORATES
CHEVRON CORPORATION, CHEVRON AUSTRALIA PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN TAXATION OFFICE

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