Woodside recognises the importance of stability, fairness and competitiveness in Australia’s tax and fiscal regime.
We understand that our social licence to operate relies on establishing and maintaining meaningful and sustainable relationships with all our stakeholders and the communities in which we operate.
Paying the taxes due under the law is one of the ways we support our social licence to operate.
Woodside has paid $750 million in Australian tax and royalties in respect of the 2016-17 income year. Over the past four income years, 2013-14 to 2016-17, Woodside has paid $4 billion in tax and royalties.
We have an established governance framework and our Board-approved Tax Policy is clear – we will comply with all tax laws and regulations applicable to our business. We do not support the use of artificial arrangements and we apply arm’s length principles to our international related party dealings.
We are committed to maintaining open and constructive relationships with our tax policy setters and administrators, both domestic and foreign. We take a proactive approach in clarifying interpretations and practices. As an Australian headquartered company, Woodside is proud to voluntarily operate under an Annual Compliance Arrangement with the ATO, a framework which provides for real-time interaction and co-operation on tax matters.
We commend tax transparency initiatives that increase the public’s confidence in the contributions of all corporate taxpayers. In Australia, Woodside voluntarily participates in the Board of Taxation’s Tax Transparency Code. + Want to know more? Visit our website, read our Tax Policy or Sustainable Development Report.
Read the full tax transparency information for the 2016-2017 income year here.