[LittleBirdStreet]

Tax Avoidance

"BHP settles longstanding transfer pricing dispute
19 noviembre 2018

BHP has reached an agreement with the Australian Taxation Office (ATO) to settle the transfer pricing dispute relating to its marketing operations in Singapore. 

The settlement fully resolves the longstanding dispute between BHP and the ATO for all prior years, being 2003 to 2018, with no admission of tax avoidance by BHP, and provides certainty in relation to the future taxation treatment.

The dispute related to the amount of Australian tax payable as a result of the sale of BHP’s Australian commodities to BHP’s Singapore marketing business."

Note

From 2003 to 2018, BHP Australia paying "zero" tax to ATO but instead paying Singapore corporate tax to IRS Singapore..

This is an individual case, general speaking you must declare all your income including overseas income and pay tax to ATO. Spore’s inland revenue and ATO exchange data under CRS every year, failed to declare once get caught will be penalised heavily with high interest for taxes unpaid over years and go to jail.