BP chasing $10bn tax credit

BP is chasing a tax credit claim of $9.7bn (£6.3bn).

The oil giant, which is looking to bolster its finances after the Gulf of
Mexico oil spill, announced the move in its Q2 results,

BP’s group income statement for the second quarter posts a pre-tax charge of
$32.2bn linked to the oil spill and a tax credit of $9.79bn.

Under US tax laws, BP can offset a proportion of its losses against US tax,
but the move may prompt a backlash from Stateside critics.

Further reading:

to hit oil companies with disaster tax

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