BHP paid $7.3bn to govts in 2015
PERTH (miningweekly.com) – Mining giant BHP Billiton on Wednesday revealed that it had paid some $7.3-billion in taxes, royalties and other government payments, and made economic contributions of $35.7-billion during 2015.
In its latest economic contribution and payment to government report, CFO Peter Beaven noted that the company’s global effective tax rate during 2015 was 31.8%, compared with the Organisation for Economic Cooperation and Development average corporate income tax rate of 25%, with the company’s effective income tax and royalty paid rate being in excess of 45%.
“Tax and royalty payments are just one way in which we make a difference. Last financial year, our total economic contribution was $36.7-billion, which included taxes and royalties, voluntary contributions to host communities, payments to suppliers, wages and employee benefits, as well as dividends to more than 600 000 shareholders.”
Beaven noted that, at a time of subdued global growth and declining commodity prices, tax and broader economic policy was rightly a major subject of discussion in many jurisdictions.
“This report aims to contribute to these discussions by explaining our operating model and our views on the principles that should underpin effective taxation system design and mandatory disclosure regimes.”
BHP chairperson Jac Nasser noted that, in addition to BHP’s tax payments, the company also contributed $225-million to local communities across the world, including on improving access to education and healthcare.
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