Business 27 Sep 2019

Recognised leader in approach to tax

Woodside is placed as a leader amongst our peers in the Corporate Sustainability Assessment for our approach to tax.

 

The CSA is a global sustainability benchmark that tracks the performance of leading companies in terms of governance and economic, environmental, and social criteria.

The recognition is from our demonstrated approach:

  • Woodside has an established tax governance framework and a publicly available Tax Policy that is clear – we will comply with all tax laws and regulations applicable to our business.
  • We believe in paying taxes according to where value is created and do not support the use of artificial arrangements.
  • Our public reporting fulfilled the tax transparency requirements of the CSA, enabling our membership of the DJSI World, Asia-Pacific and Australia indices.

In 2019, Woodside paid A$737 million in taxes and royalties to the federal and state governments of Australia, and over A$10 billion over the past ten years to 2020. 

Our tax is paid through a number of entities, including Burrup Facilities Company Pty Ltd and Burrup Train 1 Pty Ltd, which reflect the different joint ventures we operate. 

Companies' transparency around their financial payments to governments is critical for confidence and stability in our fiscal, political and regulatory regimes.

In Australia, we participate in the Board of Taxation’s voluntary Tax Transparency Code. We also operate voluntarily under an Annual Compliance Agreement with the Australian Tax Office, which is only available to taxpayers that have a trusted relationship, are willingly transparent, have a good compliance history and a robust tax governance framework.

Visit our Payment Transparency page for more data and information about our approach.