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BIL
BIBLT
BIL - BHP Billiton Plc - Announces assessment by Australian tax office
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
4 December 2007
BHP BILLITON ANNOUNCES ASSESSMENT BY AUSTRALIAN TAX OFFICE
The Australian Taxation Office (ATO) has issued assessments and is in
dispute with BHP Billiton Limited (BHP Billiton) and its subsidiary
company, BHP (Direct Reduced Iron) Pty Ltd in respect of the 2000 to 2006
income years. BHP Billiton maintains that the Group is entitled to the
tax relief claimed.
The dispute is in respect of capital allowances claimed by the BHP
Billiton group of companies in relation to Boodarie Iron (Australia)
which ceased operations in August 2005.
The dispute involves primary tax of US$336 million (A$384 million) and
interest (net of tax) and penalties of US$307 million (A$350 million).
The Company has taken legal advice and remains confident of its position.
It intends to vigorously defend the assessment.
The outcome of the dispute is unlikely to be known for some time. In the
meantime BHP Billiton believes that the matter is adequately provided for
in the accounts.
BHP Billiton previously announced in June 2005 that the ATO had issued
assessments against BHP Billiton Finance Limited relating to the cost of
funding the Boodarie HBI plant. That matter is currently before the
Federal Court of Australia.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia United Kingdom
Samantha Evans, Media Relations Andre Liebenberg, Investor
Tel: +61 3 9609 2898 Relations
Mobile: +61 400 693 915 Tel: +44 20 7802 4131
email: Mobile: +44 7920 236 974
Samantha.Evans@bhpbilliton.com email:Andre.Liebenberg@bhpbilliton.
com
Don Carroll, Investor Relations Illtud Harri, Media Relations
Tel: +61 3 9609 2686 Mobile: +61 Tel: +44 20 7802 4195 Mobile: +44
417 591 938 7920 237 246
email: Don.A.Carroll@bhpbilliton.com email: Illtud.Harri@bhpbilliton.com
United States South Africa
Tracey Whitehead, Investor & Media Alison GIlbert, Investor Relations
Relations Tel: SA +27 11 376 2121 or
Tel: US +1 713 599 6100 or UK +44 20 7802 4183
UK +44 20 7802 4031 Mobile: +44 7769 936 227
Mobile: +44 7917 648 093 Email: Alison.Gilbert@bhpbilliton.com
email:Tracey.Whitehead@bhpbilliton.com
Date: 04/12/2007 08:04:01 Produced by the JSE SENS Department.
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