Australia Hits Multinationals With New Tax Rules

Aussies make technology firms hand over their cash to state coffers. blog
Australia makes multinationals pay more tax. An audit by the the OECD brought to light how much money the big companies owed. With countries toughening up the rules, it is becoming increasingly difficult for the tax avoiders to keep all the profit. ⎳ Australia a Hits a Multinationals a With a New a Tax a Rules ⎳
Australian tax rules
The OECD recommended ways to stop the cash going to tax havens. Nations have taken notice and passed new legislation. Australia's rules are clear: if you earn in Australia you must hand over the tax.  Large businesses will have no choice.  ⦿3 Australia b Hits b Multinationals b With b New b Tax b Rules ⦿3

Messing around with intercompany transfers between international branches to artificially reduce income will also face obstacles.  The mother conpany providing overpriced inputs to outlying branches will end.  Microsoft, Apple and Google have had their wings clipped.  ⧗ Australia c Hits c Multinationals c With c New c Rules ⧗

Like the United States, Australia plans to lower the corporate tax rate. Soon countries like Ireland will lose out as money flows elsewhere. There will be a race to the bottom as governments move the rate lower and lower.
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