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 Excellent: Tax haven explosion puts hole in OZschwitz corporate tax

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RR Phantom

RR Phantom

Location : Wasted Space
Job/hobbies : Cayman Islands Actuary

Excellent: Tax haven explosion puts hole in OZschwitz corporate tax Vide
PostSubject: Excellent: Tax haven explosion puts hole in OZschwitz corporate tax   Excellent: Tax haven explosion puts hole in OZschwitz corporate tax Icon_minitimeFri Feb 13, 2015 7:49 pm

Confidential documents obtained from the Tax Office under the Freedom of Information Act show Australia's corporate tax base is in crisis because of the explosion in tax haven dealings by multinational companies.

The alarming data in these internal documents is at odds with the public position of the Australian Tax Office (ATO), which maintains the tax regime in this country is functioning well and most large corporations pay their fair share of tax.

One of the most telling FOI findings is a comparison between real trade and international related party dealings. In 2012, Australia's largest trading partner, China, accounted for 20 per cent of total trade but just a fraction of related party trade, whereas Singapore and Switzerland accounted for 40 per cent of related party trade.

Read more: http://www.smh.com.au/business/tax-haven-explosion-puts-hole-in-corporate-tax-20150213-13dnh8.html#ixzz3RfycKIzo
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