er6n,
"In a civilised society the Laws are the Laws and should be the same for everybody! If a Law allows a company to have some of its operations overseas earning less Tax then so be it.
If you don't like the Laws canvass the Government to change them."
I think you will find that in Australian Tax Law there is already rules covering entities that set up foreign operations just to avoid tax, ie what RIO and BHP are doing is against the existing rules via their 'hub' in Singapore.
If they had some financial advice from someone saying it was OK to do, they will probably end up suing them for false advice, after they pay the fines. Of course the entity that gave the advice will probably no longer exist or be a $2 company.
Iron Ore Price, page-1809
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