BHP Billiton has a long-standing commitment to transparency.
In 2000, we first disclosed our aggregate payments of taxes and royalties around the world. Since then, the detail of our disclosure in relation to payments to governments has continually increased.
This year, we have published our Economic contribution and payments to governments Report (PDF 2.5 MB). This Report discloses the payments we have made to governments during the 2016 financial year on a country-by-country and project-by-project basis.
We have prepared ‘Our payments to governments’ in our Report in accordance with the UK Regulations which implement the EU Accounting Directive. We also support the Australian Voluntary Tax Transparency Code with which our Report complies.
Payments to governments Report 2016
Our total economic contribution globally in the 2016 financial year was US$26.7 billion. This includes US$3.7 billion globally in taxes, royalties and other payments to governments. Our adjusted effective tax rate was 35.8 per cent, and when royalties are included, the rate is more than 58 per cent.
In the last decade, we paid US$85 billion globally in taxes, royalties and other payments to governments, including US$58 billion in Australia. Over the last decade, our adjusted effective tax rate averaged 31.9 per cent, and 39.8 per cent when royalties are included.
Our approach to tax
Our approach to tax is underpinned by our global tax principles that have been reviewed and endorsed by the Risk and Audit Committee of the Board of BHP Billiton.