21 December 2017
Wesfarmers is very pleased to present its Tax Contribution Report for 2017.
Wesfarmers is among Australia’s top 10 taxpayers and importantly, we are the largest private sector employer in Australia. Our primary objective is to provide a satisfactory return to shareholders and we recognise we can only do this if we create value for shareholders, employees and the communities in which we operate over the long term. We know that Wesfarmers’ success is dependent on the wellbeing of the economies and communities where our businesses operate and our conservative approach to tax strategy is one of the many ways we act to ensure sustainability of our operations.
Wesfarmers paid $2.1 billion of taxes and royalties in the 2017 financial year, predominantly to governments in Australia, compared to $1.5 billion in the previous financial year. The Group also collected an additional $4.8 billion in taxes and duties for the Australian Government, including employee Pay
As You Go tax, excise and customs duty, and GST.
This Report is published on a voluntary basis to demonstrate our continued commitment to tax transparency. We are pleased to disclose our taxes paid in Australia and to detail our approach to tax planning.
Click here to read the full report.