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Chevron faces tax audits over $3b in related party payments

Chevron Australia has faced three new audits by the Tax Office involving payments of more than $3 billion that it made to related companies offshore since 2009, the company revealed in a submission to the Senate inquiry into corporate tax evasion.

Neil Chenoweth
Neil ChenowethSenior writer

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Chevron Australia has faced three new audits by the Tax Office involving payments of more than $3 billion that it made to related companies offshore since 2009, the company revealed in a submission to the Senate inquiry into corporate tax evasion.

The three audits have run in the background while the US energy giant fights a $322 million tax bill in the Federal Court relating to earlier years in a debt arrangement which Chevron has revealed was far more profitable than previously known.

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Neil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards. Connect with Neil on Twitter. Email Neil at nchenoweth@afr.com.au

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    Original URL: https://www.afr.com/news/policy/tax/chevron-faces-tax-audits-over-3b-in-related-party-payments-20150802-gipoes