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 'Patent box' rules would open new multinational tax dodge, warn whining, thieving, OZschwitz opponents

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'Patent box' rules would open new multinational tax dodge, warn whining, thieving, OZschwitz opponents Vide
PostSubject: 'Patent box' rules would open new multinational tax dodge, warn whining, thieving, OZschwitz opponents   'Patent box' rules would open new multinational tax dodge, warn whining, thieving, OZschwitz opponents Icon_minitimeMon Jun 09, 2014 8:22 pm
Multinational companies such as Google and Apple will have another way of lowering their taxes in Australia under controversial new tax breaks on patents being pushed by big business, an advocacy group has warned.

Multinational corporations have been lobbying the Federal government to introduce UK-style 'patent box' rules in Australia, saying they would strengthen the economy by keeping more companies in Australia.

But Tax advocacy group the Tax Justice Network has urged Canberra to resist the calls, saying the patent box rules introduced in the UK last year have created a new way for large businesses to avoid tax in the countries in which they operate.

''It would be contrary to the aims of [the OECD's profit shifting] action plan for Australia to adopt a harmful tax practice like a patent box arrangement,'' it said in a letter to the Treasurer last month.

http://www.smh.com.au/business/patent-box-rules-would-open-new-multinational-tax-dodge-warn-opponents-20140609-39sag.html
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