Decision viewed as landmark victory for Australian Taxation Office but energy group says it might lodge appeal with high court Multinational energy group Chevron has been left with an increased tax bill of $340m after losing an appeal in a landmark profit-shifting case. The full federal court unanimously upheld a decision on Friday that Chevron engaged in transfer pricing by paying a higher rate of interest on a loan from its subsidiary to shift profits from Australia to the United States.
Chevron Australia faces $340m tax bill after court rules it shifted profits to US
The Guardian - 21 Apr 2017 06:43
Decision viewed as landmark victory for Australian Taxation Office but energy group says it might lodge appeal with high court Multinational energy group Chevron has been left with an increased tax bill of $340m after losing an appeal in a landmark profit-shifting case. The full federal court unanimously upheld a decision on Friday that Chevron engaged in transfer pricing by paying a higher rate of interest on a loan from its subsidiary to shift profits from Australia to the United States.
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