Fortescue defends Singapore company

Fortescue defends Singapore company

AAP Fortescue Metals has confirmed reports that it set up a company in Singapore, but insists it has not used it to avoid paying tax. The report comes after Fortescue's recent attacks on its bigger rivals Rio Tinto and BHP Billiton for using the same type of marketing hubs as tax shelters. Chief financial officer Stephen Pearce said the company, Fortescue International Marketing, had undertaken …

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