Major multinational port operator paid zero tax in Australia while raking in billions

The Guardian Australia reports on CICTAR’s latest research which highlights how DP World, one of Australia’s two largest port operators, has paid no tax in Australia despite generating revenue of more than $4.5bn over eight years.

The research identified three related party payments that “were equivalent to 120% of the 2022 operating income of DP World’s Australian port business”, suggesting that “related party debt transactions, [and] inflated management service fees” may have been used to artificially reduce profit.

Jason Ward, CICTAR’s principal analyst is quoted, saying that this case study is: “another example of why the Australian government, as promised, must legislate full and complete public country by country reporting for all multinationals operating in Australia”.

DP World said that it fulfils its tax obligations by “paying in accordance with Australia’s tax regulations”.