Australian miner BHP Billiton has announced that, as a result of the changes in the US tax reform, which reduced the US Federal corporate income tax rate from 35 percent to 21 percent as well as other measures, including changes to international tax provisions, it expects to recognize an income tax expense of US$1.8 billion which will be treated as an exceptional item.
The company plans to announce its financial results for the first half ended December 31 of the financial year 2017-18 on February 20.
Meanwhile, BHP Billiton also stated that the US tax reform will have a positive impact on its US attributable profits in the longer term mainly due to the lower corporate tax rate.