Woodside has paid more than A$13 billion in Australian taxes and royalties since 2011.
Our Australian taxes are paid by a number of Woodside entities: Woodside Petroleum Ltd (now known as ‘Woodside Energy Group Ltd’); and the 90%-owned ‘Burrup’ entities, Burrup Facilities Company Pty Ltd and Burrup Train 1 Pty Ltd, which support our Pluto Project.
The data reported in the Australian Taxation Office (ATO) 2020-21 Report of entity tax information shows that in respect of the financial year ended 30 June 2021, the three Woodside corporate entities had combined taxable income of approximately A$1.5 billion and income tax payable of approximately A$390 million.
Our Australian corporate income tax payments were lower in the 2020-21 income year due to losses incurred during the COVID-19 pandemic and associated market conditions.
In addition to the ATO data, Woodside reports its Australian tax contributions for the previous calendar year on a cash paid basis.
In 2021, Woodside paid A$658 million in taxes and royalties to the Australian Commonwealth and State governments, which included A$333 million in corporate income tax. This will be significantly higher in 2022.
From January to October 2022, Woodside has already paid more than A$2 billion in taxes and royalties, including A$700 million in corporate income tax and A$700 million in Petroleum Resource Rent Tax.
Woodside CEO Meg O’Neill said the company had made a significant contribution to Australia’s tax revenue over the past decade.
“Woodside is proud of the contribution we make to the communities where we live and work and we do the right thing when it comes to paying our taxes. As one of Australia’s largest taxpayers, Woodside is subject to the ATO’s Justified Trust program, designed to assure that companies are paying the right amount of tax.
“We actively participate in several ESG rating indices and our transparent approach to tax reporting is reflected in our inclusion within the leading group, relative to our industry peers.
“Woodside values the trust of all our employees, joint venture partners, contractors, suppliers and customers, and we know that transparency and accountability are core to maintaining that trust,” she said.
