Published on 10 Oct 13
by VICTORIAN DIVISION, THE TAX INSTITUTE
On 4 February 2013, the Assistant Treasurer, David Bradbury, announced a new and somewhat radical initiative for highlighting the identities of multinational corporate groups who pay little tax in Australia. These controversial measures have simultaneously triggered support and opposition from different parts of ourcommunity. This paper takes a deep dive into the issues that emerged from Bradbury’s initiative, including:
- where are we at, and what is proposed?
- global response by governments to BEPS concerns about risk to tax base.
- where did this come from and what does it mean for multinational corporations (MNCs)?
- does the legally correct amount of tax necessarily equal the morally correct amount of tax? If not, what amount should be paid?
- naming and shaming – the court of public opinion
- balancing taxpayer privacy against the public interest
- role of OECD – pronouncements to address changed MNC business environment and platforms
- G20 announcements and collaboration
- impact of increased transparency and reporting on how much tax is being paid and where
- Australian Government response – Treasury SPG working group and mid-year report
- managing this new environment – challenges for MNCs.
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Tony is a Partner in the Ernst & Young National Tax Group and has been involved with tax consolidation since
its creation emerging from the Ralph RBT. Tony was a member of the Tax Consolidation Joint Design team of Treasury, ATO
and professionals, and remains a member of the NTLG Consolidation Subcommittee and various working groups dealing with
consolidation practice, emerging law and ATO compliance initiatives for consolidating groups. Tony is a member of the ICAA
National Tax Technical Committee and chairs it’s Consolidation Working Group.
Current at 9 February 2009
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