Chevron tax move sets precedent

IN THE navy, “clear the decks” means prepare for action, whereas what Slugcatcher saw in last week’s deck clearing by Chevron Corporation was about avoiding more action by sweeping away a $1 billion Australian tax problem so normal business can be resumed.

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"Chevron Australia has reached agreement with the Australian Taxation Office on the loan transfer pricing dispute and have withdrawn our appeal to the High Court," a Chevron spokesman said in a