Hi Raider, There is no GST on exports & Shell gets all GST refunded on Aus input costs .
It sounds like they are in in the same lark as PHP & Rio who were nailed for over $half a billion each earlier for "Transfer Pricing" via their respective IO exporters' Singapore Marketing Hubs.
One now has to seriously ask : Is our Free Trade Agreement with Singapore fit for puropse?
Since this is a known tax dodge, , IMO the punitive fines should be at least double the tax avoided to deter others One would imagine that a corporation like Shell that is getting a penalty kick in Aus (no petroleum Resource Tax) would add insult to injury?
Glencore got off with using its marketing hub in Switzerland on appeal.
IMO all Aus export products should be invoiced directly from the producer in Aus to the customer O/S to avoid this type of gig.
But as the say in business; "never under-estimate the greed of the other guy" !!!
