Australia chasing miners for shifting profits through S'pore hubs: paper

Melbourne

AUSTRALIA is pursuing global miners BHP Billiton and Rio Tinto for shifting billions of dollars in iron ore profits through marketing hubs in Singapore that pay almost no tax, the Australian Financial Review reported on Tuesday.

The Australian Taxation Office (ATO) was chasing multibillion-dollar claims against each company, the newspaper said, citing a source with direct knowledge of the disputes.