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  • Closing multinational tax loopholes


    13 July 2017

    We are ensuring multinational entities pay their fair share of Australian tax by administering new laws designed to close loopholes and ensure Australian profits are taxed here.

    These laws aim to help businesses, both big and small, compete on a level playing field, benefiting Australian communities and the economy.

    What are the key measures?

    • From 1 July, large multinational entities that move undeclared profits overseas may be hit with an increased tax of 40% – the Diverted Profits Tax.
    • The Tax Avoidance Taskforce was established to investigate and challenge aggressive tax avoidance arrangements, including profit shifting.
    • The Multinational Anti-Avoidance Law aims to prevent large multinational entities from claiming profits were earned overseas, when they were earned in Australia.

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