It is a big issue everywhere
Big companies and sports stars avoiding tax by legal means
Even lil wayne has been paying lip service to the cause
But we all know what happens when Multi-Nationals are asked to pay there fair share
WAYNE Swan has called for G20 nations to co-operate to crack down on tax avoidance by multinational corporations.
http://www.theaustralian.com.au/business/economics/swan-calls-on-g20-to-crack-down-on-corporation-tax-evasion/story-e6frg926-1226624755230
Wake up and smell the coffee Starbucksโs tax troubles are a sign of things to come for multinationals
http://www.economist.com/news/business/21568432-starbuckss-tax-troubles-are-sign-things-come-multinationals-wake-up-and-smell
Amazon UK paid ยฃ2.4m tax on ยฃ4bn sales last year
http://www.bbc.co.uk/news/business-22549434
and our friends at ebay and paypal pay virtually no income tax or GST on all the transactions happening in Australia
I would like to know how a company like paypal can be wondering around the country with their tour bus spruiking their services and also have staff in Australia and then have no tax to pay as they legally squirrel it away in Switzerland next to the Fuhrer's Gold.
Hopefully more people will inform on the illegal tax dodgers like below and the legal ones can be made to pay through legislation but will probably be circumvented by political donations and the like.
Complex 400GB-strong dataset.
The Australian Tax Office is grappling with a โcomplicated and unstructuredโ trove of data as part of collaborative cross-border investigations into international tax dodging.
The project, involving tax authorities from Britain, the US and Australia, involves a 400 gigabyte c...British tax office.
The initiative falls under the ATOโs Project Wickenby. Established in 2006, the cross-agency task force has recouped $691.9 million and p...
There are currently nine criminal investigations underway.
The ATO is legally allowed to share local tax information with other countries under the Double Tax Agreements and the Tax Information Exchange Agreements.
Australia has tax information exchange agreements with more than 30 countries.
The ATO declined to provide detail on how or where the data was being stored and analysed, but said the system on which the data was being retained was not beholden to any one country.
โThe data is being stored in a secure system โ separately and not integrated to ATO or international partner agencies systems,โ a spokesperson said.
โThe data set is unstructured and complicated. A range of sophisticated analytical software is being used to interpret the data.โ
It is understood the current investigation is focusing on individuals rather than businesses.
The local arms of global technology companies have come under fire recently for seemingly not paying enough tax.
The Government recently released a paper in which it approached industry for comment on whether the current use of ...
The paper highlighted โaggressive tax practicesโ of the likes of Google and Apple. Treasury found since the onset of the GFC, Australian companies have been paying 27 cents per dollar of profit compared to the statutory rate of 30 cents per dollar.
Google paid $74,176 in tax off $201 million in revenue locally last year, a figure later disputed by the company which claimed its tax bill was closer to $781,471. Apple Australia paid $40 million in tax in 2012 on revenue of $6 billion.
No ICIJ collaboration
The data under scrutiny by the three countries does not include records obtained by global tax haven...The International Consortium of Investigative Journalists, the ATO confirmed. The ICIJ is analysing ...
An ATO spokesperson said there appeared to be similarities between the two datasets but the agency hadnโt seen the ICIJ data.
The ICIJ is using free-text retrieval software from Sydney-based data indexing company Nuix and US-based dtSearch to a...
The ATO has so far placed two Australians under criminal investigation and has identified more 100 wealthy Australians who have set up offshore accounts, saving tens of millions of dollars in tax.
Of those, 65 were identified as โhigh riskโ after moving over $1 million in or out of the country without declaration.
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