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Posts Tagged ‘transfer pricing’
Industry, News - Tuesday, February 18, 2014 15:12 - 16 Comments
news The Federal Labor Party has demanded the Government bring Australia’s international taxation regulations into line to deal with multinationals such as Apple and Google, which are siphoning billions of dollars of revenue out of Australia while paying only small amounts of local tax.
In a statement issued this morning, Shadow Assistant Treasurer Andrew Leigh called on Treasurer Joe Hockey to show strong leadership at the G20 Finance Ministers’ meeting this week to achieve global action to crack down on “multinational corporations that pay little or no taxation at all”.
“Since coming to office, the Abbott Government has talked a big game on multinational profit-shifting. But all it has done is to water down Labor’s sensible reforms that ensure multinationals pay their fair share,” said Leigh.“On 14 December 2013, Assistant Treasurer Arthur Sinodinos announced that it would abandon a $700 million measure to prevent multinational firms reducing their tax bill.” Continue…