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Tax transparency in line with Our Bond

BlueScope supports the global development of improved tax transparency to assist with building trust in the tax systems in the countries in which we do business.  Our disclosures through the BlueScope Tax Contribution Report, published since FY2017, aim to help the community, including our investors, better understand our tax contributions, strategy, governance and compliance with the tax laws in Australia and internationally. 

BlueScope is subject to the tax regimes in each of the countries in which we have a presence. Wherever we operate we conduct business responsibly and ethically, and work to prevent instances of bribery and corruption, which take resources away from communities and governments. BlueScope is committed to complying with all tax laws in the jurisdictions in which we operate. We strive to pay the right amount of tax, at the right time, in the jurisdictions where we create value. This is consistent with Our Purpose, Our Bond and our belief in operating sustainably, responsibly and with integrity.

The information in our Tax Contribution Report, made available previously betfred casino reviewin our Sustainability Reports, meets the expectations of the Australian Voluntary Tax Transparency Code, to which we are a signatory.

Click the button to read our Tax Contribution Report published annually. Reports for previous years are available here.

 

Specific details on our UK tax strategy

Specific details on our UK tax strategy (BlueScope has a wholly owned UK resident subsidiary in its corporate structure, with limited operations), include (noting that this disclosure is intended to satisfy the reporting obligations of Schedule 19 of the Finance Act 2016):

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BlueScope’s approach to risk management and governance in relation to UK taxation is consistent with our approach globally and is documented in our Tax Management Framework

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BlueScope aims to maximise profit and cash repatriation consistent with normal commercial objectives and we seek external advice on key transactions

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As described in the Framework, BlueScope’s tax risk appetite considered appropriate by the Board (globally, including for UK taxation purposes) is conservative

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BlueScope's approach towards dealings with HMRC is as required given its limited UK operations