• Article Rating
  •  Average 3 out of 5
  • Closing multinational tax loopholes


    23 October 2017

    Since July 2016, we have collected over $1.5 billion from multinational corporations.

    The Tax Avoidance Taskforce continues to investigate multinational corporations and can penalise large multinationals if they move undeclared profits overseas.

    As a result of these measures, more money is being invested here, 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 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.

    Find out about:

  • Rate this article
  •  Average 3 out of 5