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PARADISE PAPERS, The tax trick big miners use to avoid paying millions
blacksheep
post Posted: Aug 14 2019, 08:04 PM
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In Reply To: blacksheep's post @ Nov 8 2017, 11:12 AM

Glencore fails to stop Australian tax office using 'Paradise Papers'
QUOTE
Global commodity miner and trader Glencore on Wednesday lost its case to stop Australian tax authorities using business information that was leaked as part of the so-called Paradise Papers.

Ivan Glasenberg's Glencore had argued that information revealed by the Paradise Papers - a leaked dossier that included information on clients of the Appleby law firm in Bermuda - should not be available to tax authorities as the information had been stolen.

But the High Court found that the Australian Tax Office (ATO) was entitled to access the documents as they were in the public domain, adding that lawyer-client privilege did not apply in this case.

The decision means the ATO can continue to use the Paradise Papers and other similar data leaks, ATO Second Commissioner Jeremy Hirschhorn said in a statement.

"Today's decision is not just a win for the ATO; it's a win for the Australian community who rightly expect the ATO to use all information available to ensure large corporations ... are paying the right amount of tax," he said.

The ruling potentially opens the door for Glencore to receive a backdated tax bill, given the ATO has handed peers BHP and Rio Tinto large tax notices in recent years after reviewing their tax practices, specifically those around valuing commodities in lower tax jurisdictions.

"Glencore respects today's High Court decision," a company spokesman told Reuters.

Reuters

https://www.theage.com.au/business/companie...814-p52h3l.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 8 2017, 11:12 AM
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Posts: 6,130
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In Reply To: blacksheep's post @ Nov 6 2017, 01:04 PM

The inside story of Glencore's hidden dealings in DRC
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Behind the black letters of the Paradise Papers lies a world of extraordinary colour.

Obtained by the German newspaper Süddeutsche Zeitung, and shared with the International Consortium of Investigative Journalists, the Guardian and more than 90 media partners across the globe, the Paradise Papers reveal the reality of the arcane world of offshore tax havens and global finance.

And they raise serious questions about the conduct of the commodities multinational Glencore and the Israeli mining billionaire Dan Gertler in Africa.

https://www.theguardian.com/business/2017/n...dealings-in-drc



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 6 2017, 01:04 PM
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Posts: 6,130
Thanks: 2193


The subject of a Four Corners investigation tonight

The tax trick big miners use to avoid paying millions
http://www.abc.net.au/news/2017-11-06/ato-...ection=business

https://www.icij.org/investigations/paradis...iest-1-percent/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 



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