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BHP Billiton pays over US$7 billion in taxes

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World Coal,


BHP Billiton paid US$7.3 billion in taxes, royalties and other payments to governments in its 2015 financial year (to June 2015), according to its ‘Economic Contribution and Payments to Government Report 2015’, with the bulk of it paid in Australia.

The company’s Australian businesses – which include copper, iron ore and coal mining and logistics operations, as well as offshore and onshore oil and gas and corporate headquarters – paid US$5.3 billion in federal, state and local taxes and royalties. Chile received the second largest amount with US1.1 billion paid to the national government and three municipal governments.

“Our payments of taxes and royalties reflect the fact that governments bestow upon us the responsibility of converting their natural resource endowments into revenue streams,” said Peter Beavan, BHP’s Chief Financial Officer. “Through this, governments can provide their citizens with the services and infrastructure necessary to improve their citizen’s quality of life.”

“Payments of taxes and royalties are one element of our broader economic and social contribution,” Beaven continued. “In 2015, our total economic contribution was US$35.7 billion, which included payments to suppliers, wages and employee benefits, dividends, taxes and royalties.”

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Read the article online at: https://www.worldcoal.com/mining/23092015/bhp-billiton-pays-over-us7-billion-in-taxes-2896/


 

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