Australia Leads Against Large Multinational Corporations Tax Dodging

Homepage News Australia Leads Against Large Multinational Corpor...

07 February 2023, 08:15

MELBOURNE and SYDNEY, Feb 06 (IPS) - Australia is set to become the first country or jurisdiction to require large multinational corporations (MNCs), with a global consolidated income of at least AU$1 billion, to publicly report country-by-country (CbC) tax information. The new Labor Government announced on 25 October, 2022 in its budget paper that MNC’s public CbC tax reporting will begin from 1 July, 2023. Australia’s public CbC reporting rules will apply to all companies headquartered in Australia and companies headquartered elsewhere with sufficient nexus in the country.

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