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 Excellent: Murdoch's $880m tax win over OZschwitz extortionist, ATO

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Excellent: Murdoch's $880m tax win over OZschwitz extortionist, ATO Vide
PostSubject: Excellent: Murdoch's $880m tax win over OZschwitz extortionist, ATO   Excellent: Murdoch's $880m tax win over OZschwitz extortionist, ATO Icon_minitimeTue Feb 18, 2014 1:54 am
An $880 million payout to Rupert Murdoch's News Corporation has reignited the debate over whether global companies pay their fair share of tax in Australia.

Excellent: Murdoch's $880m tax win over OZschwitz extortionist, ATO 20140217183017265477-620x349

News was paid the money after winning a long-running legal battle with the Tax Office relating to a 1989 restructure of the media empire involving billions of dollars and a company in tax haven Bermuda.

The ATO had refused to allow the deduction but News Corporation defeated it in the full Federal Court in July and the money began flowing to the company over the Christmas-New Year break.

Mark Zirnsak, who is the Australian representative of advocacy group Tax Justice Network, said the payout ''highlights the urgent need for reform of the global tax rules''.
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''Multinational companies should not be able to use their legal structures involving tax havens to dodge tax in ways that nationally based companies cannot,'' he said.

Read more: http://www.smh.com.au/business/murdochs-880m-tax-win-raises-issues-of-global-corporations-tax-liability-20140217-32wer.html#ixzz2tecbEGrn
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