Arab Today, arab today australia britain to take on firms avoiding taxes
Last Updated : GMT 21:10:43
Arab Today, arab today
Arab Today, arab today

Australia, Britain to take on firms avoiding taxes

Arab Today, arab today

Arab Today, arab today Australia, Britain to take on firms avoiding taxes

Britain's Chancellor of the Exchequer George Osborne (L)
Sydney - AFP

Australia is to work together with Britain to pursue multinational firms shifting profits offshore to avoid paying taxes, going "further and faster" than OECD plans, Treasurer Joe Hockey said on Sunday.

Hockey, who was in the United States for the G20 meeting of finance ministers and central bankers, said the two nations announced a joint working group during the multilateral forum in Washington on April 16-17 that would build on London's so-called "Google tax" on companies that divert profits overseas.

The new initiative came amid increased efforts by governments around the world, including Australia, to crack down on global firms that use complex corporate structures to lower their tax bills.

"The OECD (Organisation for Economic Cooperation and Development), through its base erosion and profit-shifting programme, is trying to set up consistent global definitions and rules in relation to companies," Hockey told the Australian Broadcasting Corporation.

"We are going for the next stage, which is to go after those companies, particularly individual companies, that are not paying the proper amount of tax where they earn the income.

"We obviously want to go further and faster (than the OECD)," the treasurer added, without elaborating on what measures were being considered.

The working group would be established after Britain's general election on May 7.

Australian parliamentarians grilled global technology and mining giants including Apple, Google, BHP Billiton and Rio Tinto at an upper house Senate hearing earlier this month on their tax structures.

The firms said they had paid the taxes they owed under the country's laws.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia britain to take on firms avoiding taxes Arab Today, arab today australia britain to take on firms avoiding taxes

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia britain to take on firms avoiding taxes Arab Today, arab today australia britain to take on firms avoiding taxes

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday