The Senate has granted the Senate Economics References Committee a further extension to report on corporate tax avoidance and aggressive minimisation by corporations registered in Australia and multinational corporations operating in Australia. The due date to report is now 30 May 2018.
The committee has asked to receive submissions on the treatment and/or payment of:
- the Petroleum Resource Rent Tax (PRRT);
- deductions; and
- other taxes
by corporations involved in Australia's offshore oil and gas industry, including matters relating to the collection of these moneys by Government.