BHP Scolded for Tax ‘Dummy Spit’ by Former Australian Treasurer
- Former treasurer demands an explanation on transfer pricing
- BHP Chairman Nasser is ‘astonished’ by tax evasion claims
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Former Australian Treasurer Wayne Swan labeled BHP Billiton Ltd.’s response to his allegations of tax evasion a “dummy spit” and demanded an explanation for its practice of funneling some sales of resources in the nation through Singapore to lower its tax burden.
“The dummy spit by BHP executives in London” was “yet another example of how out of touch corporates are with ordinary people and why, around the world, many corporates are held in such low regard,” Swan, who was Australia’s treasurer from 2007 to 2013, said in a speech to parliament on Wednesday. “The board of BHP should provide a full and frank explanation of its role in approving this aggressive transfer pricing.”