Nice to see that the Australian Tax Office is targeting transfer pricing practices this way. Good result for Australia, bad result for multinationals globally doing these practices. This was the result of interest on a small loan of $2b, now to target the $40b loan. Bring it on I say!!
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New Enron
Nice!
Crime does pay...it pays the ATO.
The ATO doesn't get much love but it gets all of mine now. Go you good things. Get the bastards.
Someone should go after the directors who authorized this practice and then fine them also...before prosecute them for fraud against Australia's citizens, with jail time.
It will be really exciting when the ATO targets the $40 billion loan and what the interest differential that won't be allowed as a tax deduction going forward. That will be big bucks
Chevron are very shifty. It is easy money for the taking.
Nice one ATO. Take that Chevron. Now..lets get the rest of it. Stop Corporate Tax Avoidance!