BHP tax rate just .002%

Bloody lovely isn't it. This is from the senate inquiry into corporate tax avoidance in Australia.

BHP Billiton has revealed the true extent of its sweetheart deal with tax authorities in Singapore. 

The miner is paying an incredibly low effective tax rate of just 0.002 per cent - or effectively nothing - on the billions of dollars in sales that it directs through its "marketing hub" in the low-tax nation. 

Between 2006 and 2014 the company booked profits of $US5.7 billion in Singapore, it said in a statement to the Senate inquiry into corporate tax avoidance. 

It paid just $US121,000 in tax in Singapore – or $US15,000 a year - it said in its answers to questions on notice to the committee. more