ATO’s new powers to deal with Multi National Tax Avoidance
Deputy Commissioner of the ATO, Mark Konza, told Senate Estimates this afternoon: “That bill was a piece of machinery, if you like, in that it firstly changed the rules so that those who are operating an ‘operate here and bill overseas’ business model were going to be brought to account from 1 January 2016. It also heightened the pressure on companies by doubling the penalties that might be applicable if they were caught out afterwards… these penalties are a stain on a company’s reputation.”
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