BHP acts on Singapore loophole

Original article by Paul Garvey
The Australian – Page: 21 : 21-Nov-18

The case for abolishing BHP’s dual-listed structure has strengthened after the resources group agreed to transfer full ownership of its Singapore trading hub to its Australian division. BHP will do so as part of a settlement with the Australian Taxation Office regarding the payment of back taxes associated with the trading hub. The settlement is likely to significantly reduce the cost to BHP of reverting to a single primary listing on the Australian sharemarket.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIAN TAXATION OFFICE, RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, SHAW AND PARTNERS LIMITED, ELLIOTT MANAGEMENT CORPORATION, TAX JUSTICE NETWORK

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