Was it fair for BHP and RIO to avoid paying Aussie Tax via the Singapore Sling method? They've since been found out, and are due to pay it back.
The TL;DR:
"In Singapore, Company closers met with the tax authorities, they struck a private sweetheart deal where they would only 20 bucks on every million dollars worth of profits. They created 'marketing hubs' in Singapore, which would buy iron ore from their Australian mines at a low price. The hubs then onsold the same ore at a markup, pocketing the difference."
Solid vid explaining it here:
Also, are there any other companies (in Mining or other industries) who engage in funky Tax reduction strategies? Super interesting area of finance...
BHP / RIO Tax Avoidance Scheme (Singapore Sling)
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