BHP to book $1.8bn charge from US tax reform

BHP said it would book a $1.8bn charge due to cuts in the US corporate tax rate.

The miner said it would record a non-cash re-measurement of deferred taxes of $898m and a non-cash impairment of foreign tax credits $834m.

The tax reform will have a positive impact on the group's US attributable profits in the longer term mainly due to the lower corporate tax rate.