In addition to company tax, Federal PRRT (Petroleum Resource Rent Tax) is payable for offshore oil and gas and State royalties for mining and oil and gas production in WA.
Shell's giant $US17B Prelude floating LNG is late, expensive, dirty and so far unreliable. An exclusive look at how a failed investment for Shell is a terrible deal for Australia.
Chevron has paid the Australian Taxation Office $US654 million ($866 million) under a partial settlement of its dispute with the tax office over intercompany loans and slashed the interest rate it charged its Australian subsidiary.
Chevron has surrendered in its $1B fight over interest charged on inter-company loans, leaving an emboldened ATO ready to tackle more multinationals for a predicted $10B haul.
The credibility of estimates from US giant Chevron of the tax it will pay for its LNG production has been undermined by questions from the Senate committee on corporate tax avoidance.
