6 Apr, 2014
3 major tech giants paying ”very low or no taxes” in Australia – Sydney Morning Herald
An Australian Tax Office crackdown on ”corporate tax erosion” has revealed that at least three major multinational technology companies are paying ”very low or no taxation” in Australia. Tax audits of the three high-tech companies could see them hit with large tax bills.
The Tax Office is targeting large companies shifting local profits overseas to minimise tax, costing billions of dollars in lost revenue. At the same time the Tax Office has announced the formation of a giant fraud-busting unit of 2200 public servants designed to intimidate large-scale local tax avoiders.
Read the rest: Tax crackdown targets big firms.
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