Tax office may apply 40% tax against multinationals for diverting profits

ATO says new tax avoidance laws forced 44 multinationals to return $7bn a year in sales to Australia

New tax avoidance laws have forced 44 multinational companies to return $7bn each year in sales to Australia, the tax office says.

Tax authorities have also confirmed they are considering applying a punitive 40% tax, known as the Google tax, against a “handful” of multinationals for diverting profits offshore.

Continue reading...

from The Guardian http://bit.ly/2CYL7Zc
via
0 Comments