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 OZschwitz: Hypocritical statist investment fund defends engaging in tax avoidance, saying it has 'sovereign immunity'

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RR Phantom

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OZschwitz: Hypocritical statist investment fund defends engaging in tax avoidance, saying it has 'sovereign immunity' Vide
PostSubject: OZschwitz: Hypocritical statist investment fund defends engaging in tax avoidance, saying it has 'sovereign immunity'    OZschwitz: Hypocritical statist investment fund defends engaging in tax avoidance, saying it has 'sovereign immunity' Icon_minitimeThu Nov 13, 2014 8:11 pm
Future Fund chairman Peter Costello has defended the amount of tax the sovereign wealth fund pays, saying it has 'sovereign immunity' when it invests overseas.

OZschwitz: Hypocritical statist investment fund defends engaging in tax avoidance, saying it has 'sovereign immunity' Article%20Lead%20-%20wide6317604311m382image.related.articleLeadwide.729x410.11m2y3.png1415854314537.jpg-620x349

The government-owned Fund was named along with other Australian companies for using Luxembourg as a base in which to lower global taxes in one of the biggest global tax leaks in history, published last week.  

Thousands of leaked documents released by the International Consortium of Investigative Journalists revealed how Australian and multinational companies used accounting firm PricewaterhouseCoopers to strike deals in Luxembourg to shift profits and avoid tax.

The documents showed how the Future Fund had created a complex corporate structure involving interest-free loans and subsidiaries in the Cayman Islands.

Read more: http://www.smh.com.au/business/costello-defends-future-fund-tax-bill-20141113-11m2y3.html#ixzz3J07jGBab
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OZschwitz: Hypocritical statist investment fund defends engaging in tax avoidance, saying it has 'sovereign immunity' PgkowJT
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