BHP CEO Nasser rebukes critics after claims of tax evasion in Australia

|About: BHP Billiton Limited (BHP)|By:, SA News Editor

BHP Billiton (BHP +2.2%) is rejecting claims of tax evasion in Australia by pointing to $58B in taxes and royalties paid in the country over the past decade.

Last week, former Australian Treasurer Wayne Swan accused BHP of funneling sales through its Singapore marketing hub to help lower its tax bill by "well over" A$1B.

“There is now no question that BHP has been gaming the system," Swan says, to which CEO Jac Nasser responds, "If we were avoiding tax, clearly we're no good at it."

Nasser says BHP’s average tax rate over the last decade including royalties is 40%, and that the company paid $85B in taxes and royalties globally over the period.