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Australia Expected Returns Over $2B Under Tax Avoidance Legislation


April, 06 2017
watermark Economic news

The Australian Tax Office intends to pursue multinational companies over seven global business amounting to more than A$2 billion unpaid taxes following the tax avoidance legislation. Although, the company names were not made public. The Multinational Anti-Avoidance Law was implemented in December 2015 to reduce tax evaders particularly for companies that have an annual income exceeding A$1 billion.


Australian Treasurer Scott Morrison commented that they wanted to make sure that large global companies earnings which Australian citizens contributed, pay their fair share of taxes from the Australian government to fund needed infrastructures and other services in the country.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.