We keep hearing about those naughty evil multinationals not paying any tax. Well what do the ATO have to say about that?
In 2013, there were over 6,300 businesses reporting international related-party dealings and they collectively paid $40 billion in company income tax. Our focus is to ensure this represents a fair share of tax under current international tax rules.
$40 billion is company tax from multinationals. To get a feel for how much money that is the total company tax take in 2012-13 was $66.9 billion and in 2013-14 $67.3 billion – so some 60% of company tax revenue comes from multinationals.