Australia to force multinationals to disclose tax arrangements
Australia will force corporate giants such as Google and Apple to disclose their tax arrangements in an effort to curb alleged tax avoidance by multinational corporations. The increasingly borderless global economy means big firms often have no tax liability in a country, even with a major local presence, assistant treasurer David Bradbury said…"This should not be a guessing game," said Bradbury after releasing measures that would require about 2,000 large and multinational businesses, including miners BHP Billiton and Rio Tinto with yearly revenue of A$100m (£69m) or more, to have their tax details published by the government. "The government intends to improve transparency around how much tax large enterprises are paying. We want to make sure that large multinational companies are paying their fair share," he said.