An ABC investigation reveals how Shell uses Singapore, a low-tax jurisdiction, as a trading hub to purchase Australian liquefied natural gas and resell it at significant markups, reportedly paying only 6.3 percent tax on $2.8 billion in profits between 2017 and 2024. The practice raises questions about whether Australia is receiving adequate tax revenue from its gas exports, with a former Australian Taxation Office deputy commissioner characterizing the arrangement as a "high risk tax avoidance" case.
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An ABC investigation reveals how Shell uses Singapore, a low-tax jurisdiction, as a trading hub to purchase Australian liquefied natural gas and resell it at significant markups, reportedly paying only 6.3 percent tax on $2.8 billion in profits between 2017 and 2024. The practice raises questions about whether Australia is receiving adequate tax revenue from its gas exports, with a former Australian Taxation Office deputy commissioner characterizing the arrangement as a "high risk tax avoidance" case.