Australia: tax paid by multinationals to be publicly disclosedFebruary 11, 2013
The Assistant Treasurer announced today, on 4 February 2013, that the Government will commence consultations to require large and multinational businesses that operate in Australia to publicly disclose the amount of tax they pay in Australia.
This will, in the Treasury view, encourage those businesses to pay their fair share of tax, discourage aggressive minimization practices and prevent them from “hiding behind a veil of secrecy.”
The consultation will decide how to target large and international enterprises, which taxes will be disclosed and how the information should be made publicly available.
©copyright IBFD. This article is part of a selection of daily news from the IBFD Tax News Service (TNS) chosen by EY professionals. All rights to the content reside with IBFD. Any use requires IBFD’s prior permission in writing. IBFD´s disclaimer applies to any and all of IBFD’s articles and publications.