03 Apr '15, 4pm

Energy company's $11 billion transfer to Singapore rings tax avoidance alarm bells - via @smh

Energy company's $11 billion transfer to Singapore rings tax avoidance alarm bells - via @smh

An ATO spokeswoman said the issue was currently under investigation. "I can confirm that we currently have 15 audits of marketing hubs under way with more ready to go," she said. Treasurer Joe Hockey is considering the introduction of a so-called "Google tax" but some experts fear the problem of tax avoidance and aggressive minimisation runs far deeper than the tech sector. Fairfax Media revealed this week that the 900 biggest companies in Australia reduced their tax bills by a combined $25 billion via deductions, exemptions and other concessions. The names of the companies have been redacted in the document, which is correspondence between the Singapore revenue authorities and their counterparts at the ATO, but a push is under way to use the powers of a Senate committee force the names of the multinationals into the public arena. Hearings of the inquiry into corporate tax...

Full article: http://m.smh.com.au/federal-politics/political-news/energ...

Tweets

Energy company's $11 billion transfer to Singap...

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Heightened worries: Tax Commissioner Chris Jordan. Photo: Bradley Kanaris An energy company operating in Australia transfe...

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theage.com.au 03 Apr '15, 1pm

Heightened worries: Tax Commissioner Chris Jordan. Photo: Bradley Kanaris An energy company operating in Australia transfe...

Energy company's $11 billion transfer to Singap...

smh.com.au 03 Apr '15, 1pm

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canberratimes.com.au 03 Apr '15, 10pm

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Energy

canberratimes.com.au 03 Apr '15, 7pm

Heightened worries: Tax Commissioner Chris Jordan. Photo: Bradley Kanaris An energy company operating in Australia transfe...

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