Thursday, 3 December 2015
Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015; In Committee
I think you are confused. This relates to global entities. This in fact is absolutely consistent with the amendment that was put to the Senate previously. It requires multinationals with a turnover of over $1 billion to ensure that they file detailed general purpose accounts. This is an important amendment. It ensures greater transparency and it is the reason that this amendment has been put to this legislation.