James Hardie Industries paid no tax on a decade of average annual profits of $204 million, according to a new report.

The report prepared by the Tax Justice Network and United Voice, found that the company avoids tax by operating subsiduaries in various low-tax jurisdictions such as Bermuda and Guernsey.

If the company had paid tax at the statutory rate, it would have paid an average of $61 million per year.

Other companies mentioned in the report include 21st Century Fox, who paid an average of 1.1% tax, and Sydney Airport, who paid 2.9%.

(Source: Sydney Morning Herald)

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