Counting the missing billions: how Australia is losing out to oil and gas giants HomeNewsOil and GasCounting the missing billions: how Australia is losing out to oil and gas giants

Changing the rules on debt loading and adopting an alternative royalty scheme would reap billions in tax revenue

The federal government could collect billions more in royalties and tax revenue if it changed the rules on debt loading and adopted alternative royalty schemes in dealing with oil and gas giants, new modelling shows.

Our modelling, funded by lobby group GetUp, found that over the four-year period from 2012 to 2015, Chevron’s average effective interest rate was 6.4%. However, it has been steadily reducing from 7.8% in 2012 to 5.7% in 2015.

Related: The Australian Tax Office transparency reporting is looking a little opaque

Related: Plans for Australia to adopt a ‘Google tax’ welcomed by advocacy group

Related: Multinational tax avoidance cost Australia $6bn in 2014, Oxfam report claims

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