BHP wins tax case

BHP Billiton has won a legal battle with the Australian Tax Office (ATO) over disputed tax bills totalling $1.8 billion.

BHP Billiton has won a legal battle with the Australian Tax Office (ATO) over disputed tax bills totalling $1.8 billion.

The dispute was over to how BHP accounted for bad debts and depreciation at its failed hot briquetted iron plant in Western Australia.

If the Federal Court decision stands, BHP will be entitled to a $330 million refund, The Australian Financial Review reports.

The hot briquetted plant was shut down soon after construction in August 2005 after an accident caused the death of one employee and seriously injured three other.

The ATO is expected to appeal the decision.

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