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BHP Billiton PLC (BLT)

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Tuesday 13 February, 2018

BHP Billiton PLC

US Tax Reform

RNS Number : 7094E
BHP Billiton PLC
13 February 2018
 

 

 

 

NEWS RELEASE

 

Release Time

IMMEDIATE

Date

13 February 2018

Location

Melbourne, Australia

Release Number

02/18



 

US TAX REFORM

 

As a result of the US Tax Cuts and Jobs Act introducing a reduction in the US Federal corporate income tax rate from 35 per cent to 21 per cent as well as other measures, including changes to international tax provisions, BHP expects to recognise an income tax expense of US$1.8 billion which will be treated as an exceptional item.  The two main components of this exceptional item are expected to be:

 

·    a non-cash re-measurement of deferred taxes as a result of the reduction in the US Federal corporate income tax rate of US$898 million; and

·    a non-cash impairment of foreign tax credits due to reduced forecast utilisation of US$834 million.

The US tax reform will have a positive impact on the Group's US attributable profits in the longer term mainly due to the lower corporate tax rate. 

 

Further information on BHP can be found at: bhp.com

 

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BHP Billiton Limited ABN 49 004 028 077

LEI WZE1WSENV6JSZFK0JC28

Registered in Australia

Registered Office: Level 18, 171 Collins Street

Melbourne Victoria 3000 Australia

Tel +61 1300 55 4757 Fax +61 3 9609 3015


 

 

BHP Billiton Plc Registration number 3196209

LEI 549300C116EOWV835768

Registered in England and Wales

Registered Office: Nova South, 160 Victoria Street

London SW1E 5LB United Kingdom

Tel +44 20 7802 4000 Fax +44 20 7802 4111




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