Chevron appeals ATO bill

Chevron is set to appeal its $340 million tax bill from the Australian Taxation Office in the High Court of Australia.

In April, a Federal Court full bench unanimously rejected Chevron’s appeal against an ATO ruling that it used an intra-company loan to avoid tax on its Australian operations.

It was expected that Chevron would pursue an appeal process, and on Friday last week it asked the High Court to reopen the case.

“As recognised by the Federal Court, Chevron Australia’s financing is a legitimate business arrangement, and the parties differ only in their assessments of the appropriate interest rate to apply,” said a Chevron spokesperson.

“Chevron Australia pays a substantial amount of tax in Australia, including royalties, payroll tax, fringe benefits tax, excise and interest withholding tax.

“Since 2009, we’ve paid about $4.5 billion in federal and state taxes and royalties.”

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