A new Australian Taxation Office review has identified major corporations—including a Microsoft subsidiary and streaming giant Netflix—among companies earning billions in revenue locally while paying little to no corporate tax. The report acknowledges that some businesses may have valid reasons for their low tax contributions, though it highlights a trend among well-known multinationals operating in the country. Tax experts and lawmakers are likely to scrutinize the findings as public debate intensifies over profit distribution and tax fairness. The disclosure follows broader discussions on how global firms structure operations to minimize tax liabilities in Australia.
ATO database names big companies – including Microsoft subsidiary and Netflix – that pay little corporate tax but notes there could be legitimate reasonsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastMicrosoft’s datacentre business and the Optus parent Singtel are among a string of major corporations generating billions of dollars in revenue in Australia while paying zero income tax.Well-known multinationals including Netflix also only pay tax on a small fraction of their turnover, according to the Australian Taxation Office. Continue reading...
