Federal Government moves ahead with implementation of tax, targeting multinational avoiders
Free TV has welcomed the Federal Government’s introduction of legislation to force multinational tax avoiders to pay their fair share.
Yesterday, the government introduced legislation into Parliament to implement the new Diverted Profits Tax, which aims to prevent multinationals, such as Google, News Corp and Netflix, shifting profits made in Australia offshore to avoid paying tax.
The new tax will commence on July 1 this year and according to a statement from the Treasurer Scott Morrison is expected to raise $100m in revenue a year from 2018-19.
