TIDMBLT

RNS Number : 7094E

BHP Billiton PLC

13 February 2018

NEWS RELEASE

 
Release Time     IMMEDIATE 
Date             13 February 2018 
Location         Melbourne, Australia 
Release Number   02/18

US TAX REFORM

As a result of the US Tax Cuts and Jobs Act introducing a reduction in the US Federal corporate income tax rate from 35 per cent to 21 per cent as well as other measures, including changes to international tax provisions, BHP expects to recognise an income tax expense of US$1.8 billion which will be treated as an exceptional item. The two main components of this exceptional item are expected to be:

-- a non-cash re-measurement of deferred taxes as a result of the reduction in the US Federal corporate income tax rate of US$898 million; and

-- a non-cash impairment of foreign tax credits due to reduced forecast utilisation of US$834 million.

The US tax reform will have a positive impact on the Group's US attributable profits in the longer term mainly due to the lower corporate tax rate.

Further information on BHP can be found at: bhp.com

 
Media Relations                            Investor Relations 
 
 Email: media.relations@bhpbilliton.com     Email: investor.relations@bhpbilliton.com 
 
Australia and Asia                         Australia and Asia 
 
 Ben Pratt                                  Tara Dines 
 Tel: +61 3 9609 3672                       Tel: +61 3 9609 2222 
 Mobile: +61 419 968                        Mobile: +61 499 249 
 734                                        005 
 
 United Kingdom and South                   United Kingdom and South 
 Africa                                     Africa 
 
 Neil Burrows                               Rob Clifford 
 Tel: +44 20 7802 7484                      Tel: +44 20 7802 4131 
 Mobile: +44 7786 661                       Mobile: +44 7788 308 
 683                                        844 
 
 North America                              Americas 
 
 Judy Dane                                  James Wear 
 Tel: +1 713 961 8283                       Tel: +1 713 993 3737 
 Mobile: +1 713 299 5342                    Mobile: +1 347 882 3011 
 
 
  BHP Billiton Limited                       BHP Billiton Plc Registration 
  ABN 49 004 028 077                         number 3196209 
  LEI WZE1WSENV6JSZFK0JC28                   LEI 549300C116EOWV835768 
  Registered in Australia                    Registered in England 
  Registered Office: Level                   and Wales 
  18, 171 Collins Street                     Registered Office: Nova 
  Melbourne Victoria 3000                    South, 160 Victoria 
  Australia                                  Street 
  Tel +61 1300 55 4757                       London SW1E 5LB United 
  Fax +61 3 9609 3015                        Kingdom 
                                             Tel +44 20 7802 4000 
                                             Fax +44 20 7802 4111 
 
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END

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(END) Dow Jones Newswires

February 13, 2018 02:00 ET (07:00 GMT)

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