Australian Tax Crackdown Yields $4.3 Billion Boost from Oil and Gas Giants

The Australian Taxation Office reports increased tax compliance among large corporations, despite 31% still paying no tax.

Oil and gas companies paid a record $11.6 billion in taxes for 2022-23, with $4.3 billion attributed to ATO enforcement actions.
Among the top taxpayers, Chevron, ExxonMobil, and Woodside saw significant increases in tax contributions compared to previous years.
Despite improvements, 31% of large companies paid no tax in 2022-23, often due to accounting losses or tax offsets.
The ATO's Tax Avoidance Taskforce collected $33.2 billion in extra revenues since 2016, with recent efforts focusing on multinational profit shifting.
The mining sector continued to dominate tax payments, contributing over half of the total tax collected from large corporations.