John de Wijn

Commodity trading and mining company Glencore has won a fight with the Australian Taxation Office over a $92 million tax bill related to copper purchased from a subsidiary operating the Cobar mine in NSW.

A claim by Coles for $40 million in tax credits for fuel that evaporates or leaks from the 3,000 tanks at its service stations — based on an argument that the company buys extra fuel to account for the loss — is “completely unreal”, a lawyer for the tax office told a court Monday.