Mining group Glencore won a partial victory in a tax dispute with the Australian Commissioner of Taxation over its internal pricing for copper concentrate.
The decision Friday could impact the way the Australian Tax Office is able to administer the transfer pricing system, which governs transactions between entities in the same multinational group to ensure they don’t bestow unfair tax advantages.
“Glencore welcomes today’s judgment from the Full Federal Court of Australia,” a spokesman for the company said.
The case still has one outstanding issue, concerning freight.
The ATO said in an email that it is considering how the decision ...