Woodside pays A$10Bln intaxation over 10 years

Tuesday, 15 December 2020
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Woodside again demonstrated its public transparency by declaring that it paid A$583 million (US$435M) in corporate taxes in Australia for the previous fiscal year and a total of A$10 billion in taxes and royalties over 10 years.

Woodside’s Australian corporate income tax is paid by three entities: its 90 percent-owned Burrup Facilities Company Pty Ltd and Burrup Train 1 Pty Ltd, which reflects the joint ventures it operates, as well as Woodside Petroleum Ltd.

The data reported in the Australian Tax Office (ATO) showed the three Woodside companies had combined taxable income of A$3.9 billion (US$2.91Bln) and income tax payable of A$583 million.

Woodside operates the North West Shelf plant and Pluto LNG on the Burrup Peninsula and is a big supplier of clean energy to nations such as China and Japan while also boosting Australia's balance of payments with export revenues.

In 2019, Woodside paid A$447M in Australian corporate income tax and a further A$290 million in other taxes and royalties.

Woodside confirmed that its 10-year bill had amounted to A$10Bln in Australian taxes and royalties over the decade to 2020.

“We are a proud Australian company and we do the right thing when it comes to paying our taxes in Australia,” stated Woodside Chief executive Peter Coleman.

“As one of the country’s largest taxpayers, Woodside is subject to the ATO’s Justified Trust program, where we have obtained the highest assurance rating,” explained the CEO.

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