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ExxonMobil, Chevron, Paid No Tax In Australia For 2016
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7 Dec 2017 01:06 PM EST

On Thursday, a report from the tax office showed that Exxon Mobile, and Chevron Corp, paid no tax in Australia in the 2016 financial year. This is the third year in a row, despite reporting billions of dollars in income from operations in the country. Exxon Mobil, which has oil and gas production in the Bass Strait, reported $5.0 billion in income and a loss for taxable income, but paid no tax. A probe by the Australian Senate into corporate tax avoidance that began in 2014 was extended this week, and is now due to issue a final report by the end of May 2018.

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