Tax Justice Network advocates tougher rules that will prevent multinationals gaming international tax laws so they pay little or no taxBig businesses and the federal Treasury are setting up “straw man” arguments against a tougher crackdown on multinational tax avoidance,the Tax Justice Network says, advocating Labor’s policy as “just the beginning” of sweeping changes that would force companies to pay fair rates of tax in Australia.
In submissions to a parliamentary economics committee examining whether tightening personal and company tax deductions could relieve fund a prick in tax rates, or the Treasury and peak commerce organisations argue that removing the ability of companies to deduct interest payments from their taxable income would be bad for the economy and force investment offshore. All the commerce submissions to the committee say they would rather retain the deductions than trade them off for a company tax prick.
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Source: theguardian.com