Govt touts multibillion-dollar tax crackdown results The federal government has today confirmed that it has raised $2.9 billion in tax liabilities against a group of seven multinational companies.

The ATO is auditing 59 multinational corporations and hundreds of other companies to ensure compliance with our taxation laws including the Government’s new Multinational Anti-Avoidance Law (MAAL).

“Our multinational tax laws are having an impact and we now have one of the toughest, if not the toughest, anti-avoidance tax regimes in the world. Multinational companies are being put on notice,” said federal treasurer Scott Morrison.

Finpecia generic cost A special 1,000 strong taskforce within the ATO has been investigating the tax arrangements of a large number of companies, including multinational corporations operating in Australia. The Turnbull Government has given the ATO powerful legislative tools and funding for a new Tax Avoidance Taskforce to ensure foreign corporations pay the right amount of tax in Australia. The ATO crackdown includes 71 audits in the large business area covering 59 multinational corporations underway, as well as hundreds of other companies being reviewed for compliance.

According to the ATO, at least seven major multinational audits are expected to come to a head before 30 June, four in e-commerce and three in the energy and resource industries. As a result, the ATO has confirmed that it has so far this year issued $2.9 billion in tax liabilities due from multinational enterprises. It is expected that some of these will be settled by the companies involved, while others are likely to be litigated.

The ATO has recently met with 175 affected taxpayers or their advisors about their structures and to ensure they are compliant with the requirements of the MAAL.

opcje binarne 5 minut The ATO is aware of 25 taxpayers who have restructured or intend to restructure their arrangements in response to the MAAL and make payments to the ATO.

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