BHP pays $9.1bn in global taxes
PERTH (miningweekly.com) – Mining titan BHP on Tuesday revealed that it had paid $9.1-billion to its host governments in the 2019 financial year, through taxes, royalties and other payments.
In its economic contribution report, the miner noted that 78.7% of this payment, amounting to $7.1-billion, was paid in Australia.
A further $1.1-billion payment was made to the Chilean government in 2019, and $253-million to the US government, followed by $53-million each to the UK and Canadian governments.
Over the past ten years, BHP’s global taxes, royalties and other payments amounted to $84.3-billion, of which $62.5-billion was paid in Australia.
BHP’s total economic contribution in the 2019 financial year amounted to $46.2-billion, with the miner contributing $29.5-billion to the Australian economy through salaries, payment to suppliers, dividend payments and government taxes and royalties, as well as through social investment.
“As well as our direct economic contribution, we invested $7.6-billion into our business through the purchase of property, plant and equipment and expenditure on exploration.
“This investment typically has a multiplier effect by creating new jobs within our operations and also for the suppliers on whom they rely,” the company said in the report.
The Queensland Resources Council (QRC) on Tuesday said that the report highlighted that BHP’s contributions in Queensland had increased by more than A$100-million in the last financial year.
“These payments to the Queensland government can be reinvested in services and infrastructure for all Queenslanders,” QRC CEO Ian Macfarlane said.
The QRC’s own annual contribution study found that in 2017/18, the resources sector contributed A$62.9-billion to the Queensland economy, making A$19.5-billion in purchases, paying A$5.2-billion in wages and returning A$4.3 billion in royalties to the state government.
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