Since 1990, when Petroleum Resources Rent Tax (PRRT) was first applied to the Gippsland Basin, Esso Australia has paid over $12 billion in this tax alone. This is on average more than $450 million paid to the Federal Government each year for nearly a quarter of a century.
Over the last 12 years, ExxonMobil Australia paid over $7 billion in profit taxes. This has equated to an effective tax rate on profit of over 50 per cent on ExxonMobil Australia group of companies profits.
ExxonMobil Australia has signed up to the Australian Taxation Office’s voluntary Tax Transparency Code (TTC). Learn more.