Australian tax authorities have recently released a report saying that on third of the largely foreign-owned corporations, including Google and Apple, paid very little or no tax in 2014. Names of some of the companies that did not pay taxes were oil services company Halliburton, the hotel chain Hilton Worldwide Holdings, the aviation company Boeing, its British rival BAE Systems, the beer company SABMiller and the automakers Honda Motor and the Ford Motor Company. However, for SABMiller case, they had no taxable income, while Google and Apple pay only a small portion of their income. Their representatives have been refusing to make any comment on such subject. Peter Burn, head of policy at business lobby the Australian Industry Group, said the data release showed tax laws needed to be updated, not that companies were evading their responsibilities.
Source: http://www.nytimes.com/2015/12/18/business/international/hundreds-of-companies-paid-little-or-no-tax-in-australia.html?ref=economy
1 comment:
It is very interesting to see the key points the article makes and it would be critical to see how things pan out in the coming few months.
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