Australia’s mining companies and banks were the largest corporate taxpayers, with the top ten handing over more than $33 billion to the government in the 2021 financial year.
According to the tax office data, BHP Group , Rio Tinto and Fortescue Metals paid the most corporate income tax in 2020-21. Some companies that did not pay income tax included commodity and energy firms. Glencore Investment reported no taxable income from $14.5 billion in revenue, while oil company Chevron, with total revenue of $9.2 billion, paid $30 in tax. Chevron published its ownto explain that the company should have paid nothing as it still had $1.8 billion in losses that financial year, but it paid a nominal amount to “protect our review rights”.
A Shell spokesperson said the company complies with all its tax obligations, and despite being in a “heavy investment phase and net cash flow deficit” had paid about $5.6 billion in direct tax payments including royalties and levies over the 10 years to December 2020.– was also high on the revenue list but low on tax payments. It brought in $33 billion in revenue, coming in at number six, but paid just under $1.8 million in tax - ranking it 1404th by tax payment.
Discount supermarket chain Aldi increased its revenue from $9.6 billion to $10.7 billion in 2020-21 and paid $270 million in tax on its taxable income of $900 million.
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