House of Representatives
Taxation (Multinational - Global and Domestic Minimum Tax) Bill 2024
Taxation (Multinational - Global and Domestic Minimum Tax) Imposition Bill 2024
Treasury Laws Amendment (Multinational - Global and Domestic Minimum Tax) (Consequential) Bill 2024
Explanatory Memorandum
(Circulated by authority of the Assistant Minister for Competition, Charities and Treasury, the Hon Dr Andrew Leigh MP)Organisation for Economic Co-operation and Development (2020), Public Consultation Document - Reports on the Pillar One and Pillar Two Blueprints 12 October 2020 - 14 December 2020
Organisation for Economic Co-operation and Development (2020), Tax Challenges Arising from Digitalisation - Economic Impact Assessment
Organisation for Economic Co-operation and Development (2021), Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalisation of the Economy, 1 July 2021
Organisation for Economic Co-operation and Development (2021), Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, 8 October 2021
Significant in this context means a global parent entity with an annual global income of A$1 billion or more with related parties. Per Australian Taxation Office (2021), Significant global entities - penalties.
Australian Taxation Office (2020), Tax Avoidance Taskforce highlights 2019-20
Organisation for Economic Co-operation and Development (2021), Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, 8 October 2021
Subject to any exclusions and reductions.
Subject to any exclusions and reductions.
Calculated on an adjusted nominal basis.
The OECD estimates are subject to a number of data and modelling caveats, and should be interpreted as illustrating the broad order of magnitude.
OECD (2020), Tax Challenges Arising from Digitalisation - Economic Impact Assessment, retrieved from www.oecd.org
OECD (2020), Tax Challenges Arising from Digitalisation - Economic Impact Assessment, retrieved from www.oecd.org
Organisation for Economic Co-operation and Development (2021), Brochure: Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, 8 October 2021
Organisation for Economic Co-operation and Development (2020), Tax Challenges Arising from Digitalisation - Economic Impact Assessment
The Business Advisory Group (BAG) is a subgroup of Business at OECD ( BIAC ), an international business association that advises government policy makers at the OECD.
Organisation for Economic Co-operation and Development (2022), Progress Report on Amount A of Pillar One
Commonwealth of Australia, The Treasury (2018), The digital economy and Australia's corporate tax system
Organisation for Economic Co-operation and Development (2021), Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, 8 October 2021
Organisation for Economic Co-operation and Development (2021), Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, 8 October 2021
Organisation for Economic Co-operation and Development (2020), Tax Challenges Arising from Digitalisation - Report on Pillar One Blueprint
Organisation for Economic Co-operation and Development (2020), Tax Challenges Arising from Digitalisation - Report on Pillar Two Blueprint
Organisation for Economic Co-operation and Development (2022), Progress Report on Amount A of Pillar One