Woodside has achieved a perfect score in the approach to tax category in the Dow Jones Sustainability Index (DJSI) for 2019, placing us as a leader among our peers.
2019 marks the third straight year we have achieved a perfect score. The DJSI is a global sustainability benchmark that tracks the performance of leading companies in terms of economic, environmental and social criteria.
The result 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 DJSI.
In 2018, Woodside paid A$894 million in taxes and royalties to the federal and state governments of Australia, and A$4.9 billion over the past five years.
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.