Labor wants multinationals to reveal their worldwide income for tax purposes. That plan is under attack
https://www.theguardian.com/australia-news/commentisfree/2024/oct/14/labor-wants-multinationals-to-reveal-their-worldwide-income-for-tax-purposes-that-plan-is-under-attack
6 Comments
>Wouldn’t it be nice to know precisely how much revenue multinational companies made in Australia and around the world just to make sure they’re not dodging tax?
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>That’s the system the European Union and Australia are trying to create, but not without substantial backlash from the companies and their advisers, such as PwC, which lobbied the government to delay country-by-country reporting.
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>The proposed changes are contained in a bill that also includes reforms to buy now, pay later financing.
Country-by-country reporting faces a significant hurdle in a Coalition amendment which would allow companies to self-declare that certain information is commercially sensitive and cannot be made public for five years.
Seems incredible that the government would still be letting PwC into the room to propose/lobby anything…
PwC lobbying about tax policy? Well I hope that got the lack of attention that it deserved.
In what universe can this be argued against without making it obvious that you’re owned by business?
This should be a bizarre hill to die on but I can bet it won’t affect polls in the least
> It may be one of those rare instances in which the Coalition or Greens will have to decide it isn’t worth insisting they have it all their own way.
Yeah, not at all rare, in fact far to common, and both parties are absolute shitcunts when it comes to this. They’ll both be pigheaded about it and demand ridiculous changes that will never work, and in the end, we’ll end up with nothing. Again.
I think the PwC it’s referring to is before government advisory was split off into Scyne.