Australian tax rates out of step: BHP

THE world’s biggest miner by market capitalisation has again voiced concerns about Australia’s tax competitiveness, saying it was “falling out of step” with the rest of the world.

Australian tax rates out of step: BHP Australian tax rates out of step: BHP Australian tax rates out of step: BHP Australian tax rates out of step: BHP Australian tax rates out of step: BHP

In its annual economic contribution report, Melbourne-headquartered BHP said it had paid "tax, royalty and other payments" to governments totalling US$7.8 billion last financial year.

Chief financial officer Peter Beaven said Australia had one of the highest corporate tax rates in the OECD and risked becoming less competitive as other countries reduced their rates.

He said the US tax reform, lowering the corporate income tax rate in FY18 from 35% to 21%, would have a positive impact on its US attributable profits in the longer term.

"Tax competitiveness is an important factor in our investment decisions," he said.

The report went on to say it could make potential investments of A$32 billion in Australia and create 15,000 high-paying jobs, including thr...

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