Australian Politics Forum - Chevron paid $240 tax on 1.7 billion revenue

Dnarever

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Re: Chevron paid $240 tax on 1.7 billion revenue
Reply #30 - Nov 10^th, 2015 at 8:50pm

John Smith wrote on Nov 10^th, 2015 at 8:22pm:

President Elect, The Mechanic wrote on Nov 10^th, 2015 at 4:54pm:

John Smith wrote on Nov 10^th, 2015 at 8:12am:

yes but the idiots from the libs will tell us it's for our own good Cheesy

bullshit...

and they are not the only company either... there's hundreds of them that are not paying their way...

like in Armchairs post - get rid of all tax and put 2% on everything.... they can't escape paying tax then... no one can.. and it shares the load equally..

http://www.2gb.com/audioplayer/138551

no bullshit about it ... which party let newscorp off a $882 million tax bill? Cheesy

Yeah but that would have only been about half of their advertising bill.

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Dnarever Gold Member Offline Australian Politics Posts: 59372 Here Gender:	Re: Chevron paid $240 tax on 1.7 billion revenue Reply #31 - Nov 10^th, 2015 at 9:08pm Chevron paid $240 tax on 1.7 billion revenue They probably sacked the finance guy who handed over that much.
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Gnads Gold Member Offline Australian Politics Posts: 30065 Gender:	Re: Chevron paid $240 tax on 1.7 billion revenue Reply #32 - Nov 11^th, 2015 at 7:13am Our Politicians & the ATO can't bring our biggest tax dodgers to task yet they certainly can take steps to reign in the tiddlers. http://www.abc.net.au/news/2015-11-09/senate-passes-legislation-requiring-expats...
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Kytro

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Re: Chevron paid $240 tax on 1.7 billion revenue
Reply #33 - Nov 11^th, 2015 at 7:52am

crocodile wrote on Nov 10^th, 2015 at 6:51pm:

Yes, that's right. Chevron are saying the difference is due to their arbitrage activities. I'm no expert on this but I would suggest that if the ATO want to go after organisations that gain from arbitrage it will have to work both ways. That is, if the arbitrage turns out to be a loss, a deduction would be in order. The old saying, be careful what you wish for.

Perhaps, but I think it's pretty clear from the fact that they were getting dividends from the subsidiary who they were borrowing from to make it viable is pretty telling that it was probably a tax dodge.

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crocodile

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Re: Chevron paid $240 tax on 1.7 billion revenue
Reply #34 - Nov 11^th, 2015 at 8:20am

Kytro wrote on Nov 11^th, 2015 at 7:52am:

crocodile wrote on Nov 10^th, 2015 at 6:51pm:

Yes, that's right. Chevron are saying the difference is due to their arbitrage activities. I'm no expert on this but I would suggest that if the ATO want to go after organisations that gain from arbitrage it will have to work both ways. That is, if the arbitrage turns out to be a loss, a deduction would be in order. The old saying, be careful what you wish for.

Perhaps, but I think it's pretty clear from the fact that they were getting dividends from the subsidiary who they were borrowing from to make it viable is pretty telling that it was probably a tax dodge.

They were certainly cashing in on the difference between rates and currencies. no doubt they owe someone the taxation on the profit. I'm not inside the tent but I expect they will argue that they owe tax OK but not to the ATO.

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Very funny Scotty, now beam down my clothes.

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Phemanderac

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Re: Chevron paid $240 tax on 1.7 billion revenue
Reply #35 - Nov 11^th, 2015 at 8:35am

Seems pretty obvious then why we now need to raise GST...

On a serious note though. If our ATO, Government and any other concerned party lack the will, capacity or tenacity to receive appropriate taxes from the "Chevrons" of the world then it also seems reasonable that hardline measures would be an appropriate response.... i.e either pay appropriate levels of tax on the profits clearly made, or lose the right to trade here legally...

Of course, that won't happen because representative democracy...

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On the 26th of January you are all invited to celebrate little white penal day...

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Jovial Monk

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Re: Chevron paid $240 tax on 1.7 billion revenue
Reply #36 - Nov 11^th, 2015 at 8:44am

Just deem EBIT and levy company tax on that. If it works for pensioners why should it not work for big companies? This illegal tax evasion and avoidance has gone too far.

Or use payroll tax to get some tax from these big rorters!

Whatever we do better be done bloody quick before the TPP the stupid Libs signed us up to comes into force.

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