Already a subscriber?The biggest company traded on the London Stock Exchange, Shell, is pushing an Australian court to clear it of $99 million in allegedly unpaid taxes that stem from its $3.5 billion exit from the formerThe 2017 share sale ended Shell’s more than 30-year investment in Woodside, completing a near decade-long effort to reduce its 35 per cent shareholding to nil. The sale of its final 13.3 per cent stake netted Shell about $3.
“Shell has a co-operative relationship with the ATO, where we discuss business activity and taxation matters on a proactive, transparent basis,” she said. “It would not be appropriate to comment further at this time.”The nearly $330 million in additional capital gains would, at the company tax rate of 30 per cent, mean Shell owes at face value $99 million to the Tax Office for the disputed years.the ATO said last November.
Source: News Formal (newsformal.com)
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