BHP to Pay $87m Extra Tax After Australian High Court Ruling

BHP will have to pay about $87 million extra tax for the income years 2006 to 2018 after the dismissal of an appeal in a tax case in the High Court of Australia, co. said Wednesday in a statement. The decision related to a dispute involving BHP’s marketing operations in Singapore.

• Following the simplification of its structure announced by BHP as part of the settlement with the Australian Taxation Office in 2018, BHP Australia is already being taxed on 100% of the profits of the marketing hub in Singapore from the sale of Australian commodities owned by BHP Australia, the ...