Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BHP Group PLC    BHP   GB00BH0P3Z91

BHP GROUP PLC

(BHP)
  Report  
Real-time Quote. Real-time CHI-X - 09/20 11:30:00 am
1776.6 GBp   -0.89%
09/18ExxonMobil Testing Interest for Assets in Southeastern Australia
DJ
09/16BHP Seeks Changes to CEO Pay Structure -- Update
DJ
09/16BHP Seeks Changes to CEO Pay Structure
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Glencore wins transfer pricing court battle with Australian tax office

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/03/2019 | 03:45am EDT
FILE PHOTO: The logo of commodities trader Glencore is pictured in Baar

MELBOURNE (Reuters) - Miner and trader Glencore has won a dispute with Australia's tax office after a court ruled it had paid the correct amount of tax on purchases of copper concentrate from a mine that it owns in New South Wales state.

Australia's tax commissioner alleged that Glencore's Swiss head office had failed to pay market rates for the copper it bought from its CSA mine in 2007, 2008 and 2009, and raised its assessment of tax owed by A$92.6 million (50.94 million pounds).

However, the Federal Court of Australia found that Glencore had established that the price it paid for the copper concentrate was "within an arm's length range", according to a judgement on Tuesday.

The long-running court case began after Glencore appealed the result of the tax office's audit in 2011-2013.

"Glencore welcomes the Federal Court decision in the matter relating to the pricing of copper concentrate sales by our CSA Mine between 2007 and 2009," the company said in a statement to Reuters.

Global tax authorities have in recent years cracked down on so-called "transfer pricing" when multinationals sell to their parent or subsidiaries abroad at lower prices, potentially avoiding taxes if they lead to the declaration of lower earnings or even losses.

The Australian Taxation Office said it would consider the decision and whether to appeal.

“The most significant issue in multinational taxation is ensuring that the Australian arms of companies have arm’s length dealings with offshore related parties," Deputy Commissioner Jeremy Geale said.

"Transfer pricing rules ensure these transactions are priced fairly and that multinational companies do not underpay tax in Australia,” he said in a statement to Reuters.

Glencore is still facing a $680 million tax demand from British authorities linked to transfer pricing that it said in February it would "vigorously contest".

The world's biggest listed miner BHP late last year signed an agreement with the Australian Taxation Office to settle a transfer pricing dispute regarding its marketing operations in Singapore.

(Reporting by Melanie Burton; Editing by Richard Pullin and Muralikumar Anantharaman)

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LTD 0.19% 37.75 End-of-day quote.10.08%
BHP GROUP PLC -0.21% 1788.8 Delayed Quote.8.31%
GLENCORE 0.88% 256.55 Delayed Quote.-11.94%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BHP GROUP PLC
09/18ExxonMobil Testing Interest for Assets in Southeastern Australia
DJ
09/16BHP Seeks Changes to CEO Pay Structure -- Update
DJ
09/16BHP Seeks Changes to CEO Pay Structure
DJ
09/15BHP Shares Jump 6% on Oil Price Spike
DJ
09/12LONDON STOCK EXCHANGE : Tariff delay, Morrisons help FTSE 100 stay afloat
RE
09/09BHP : Notice of Dividend Currency Exchange Rates - 2019 Final Dividend
PU
09/09BHP : Community Complaints August 2019
PU
09/06LONDON STOCK EXCHANGE : China stimulus plan lifts FTSE 100; G4S boosts mid-caps
RE
09/06BHP : Resolutions under section 249N of the Corporations Act for consideration a..
AQ
09/05Australia's Port Hedland iron ore shipments to China jump 10% in August
RE
More news
Financials (USD)
Sales 2020 46 154 M
EBIT 2020 18 716 M
Net income 2020 11 291 M
Debt 2020 9 840 M
Yield 2020 4,95%
P/E ratio 2020 12,7x
P/E ratio 2021 14,5x
EV / Sales2020 5,10x
EV / Sales2021 5,29x
Capitalization 226 B
Chart BHP GROUP PLC
Duration : Period :
BHP Group PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BHP GROUP PLC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 18,79  $
Last Close Price 22,32  $
Spread / Highest target 0,71%
Spread / Average Target -15,8%
Spread / Lowest Target -37,3%
EPS Revisions
Managers
NameTitle
Andrew Mackenzie CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Peter Beaven Chief Financial Officer
Diane Jurgens Chief Technology Officer
Carolyn Judith Hewson Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BHP GROUP PLC8.31%122 676
BHP GROUP LTD10.08%122 676
RIO TINTO PLC13.93%89 855
RIO TINTO LIMITED18.57%89 855
ANGLO AMERICAN PLC7.76%32 435
GRUPO MEXICO S.A. DE C.V.13.18%18 418