Australia Reveals Big Firms' Tax Details

Australia will force corporate giants such as Google and Apple to disclose their tax arrangements in an effort to curb alleged tax avoidance by multinationals.

"The government intends to improve transparency around how much tax large enterprises are paying," assistant treasurer David Bradbury told Reuters.

"We want to make sure that large multinational companies are paying their fair share."

In Australia, multinationals, including the local arm of Google, have been accused of shifting income to countries such as Holland or Ireland where tax rates are lower.

Apple has also come under parliamentary scrutiny over local pricing structures, which mean consumers can pay more for downloading software than in some other countries.

Neither Google nor Apple could immediately comment when contacted.

The increasingly borderless global economy means big firms often have no tax liability in a country, even with a major local presence, Mr Bradbury added.

Executives of Amazon, Google and Starbucks were grilled by British MPs

"This should not be a guessing game."

The government revealed that it would require about 2,000 large local and multinational businesses to have their tax details published by the government.

Companies with yearly revenue of A$100m (£70m) or more are expected to be affected.

The move comes as Chancellor George Osborne and Prime Minister David Cameron called for a sea-change in multinationals' approach to taxation.

In December, Mr Osborne announced extra investment to help clamp down on multinational companies who avoid paying tax in Britain.

MPs grilled executives from international firms including Starbucks, Google and Amazon over low levels of UK tax.

Multinational IT firms and the so-called Big Four accountancy companies were also criticised over of tax avoidance schemes.

The companies concerned have all stressed that these methods are entirely legitimate and in accordance with UK tax laws.

Starbucks faced criticism after it emerged that since its arrival in Britain in 1998, it has paid £8.5m in corporation tax, despite total sales of £3bn.

Australia's corporate tax rate is 30%, compared with Ireland's rate of 12.5%. Some of its major companies including Rio Tinto have already begun publishing tax details, expanding on information in existing financial statements.

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