In the BHP annual report it's listed as $1.65Billion not $1.7 and it is a contingent liabilities for "actual or potential litigation, including tax-related amounts"
Making money available to defend yourself is hardly an admission of guilt!
The problem now {unlike before Howard introduced his Laws}, the Laws are so general the Tax office could potentially prosecute any Australian business which does business in another country and call it Tax evasion because just about every other country has lower company Tax rates Australia being the fourth highest in the OECD!
Tax avoidance by multinational companies is typically about exploiting loopholes, this is still legal!
Tax evasion, on the other hand, is about lies and deceit.
As far we know they have done nothing wrong and they have made no announcement, that is just your BS!
In the BHP annual report it's listed as $1.65Billion not $1.7...
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