The first report from the Senate Inquiry into Corporate Tax Avoidance, initiated by the Greens, has just been tabled in the Senate. It focuses on the need to expose more dodgy dealings, and the Greens have proposed seven extra recommendations that have been appended to the report, and are attached above.
“Corporate tax dodgers are ripping off Australia and ordinary taxpayers deserve to know,” said Greens Leader Richard Di Natale, who has taken over Christine Milne’s seat on the inquiry.
“The Abbott government is telling those who can least afford it to tighten their belts, while letting hugely profitable corporations gorge themselves on double Irish Dutch sandwiches.
“You can’t tax what you can’t see, so the first step in fixing the system is to expose the dodgy dealers and make them accountable to their customers.
“The Australian public had no idea how aggressively mining companies, the tech giants and pharmaceutical companies were avoiding paying tax until the Greens started this inquiry.
“Every industry the inquiry has looked into, we’ve found this behaviour going on. Quite clearly, we need to keep lifting the lid.
“Joe Hockey’s claim that private company bosses may be kidnapped if they disclose their tax affairs is ridiculous. The inquiry heard that neither Treasury, the ATO nor the AFP share his concerns.
“The Liberals’ protection racket for their big business mates has to end today,” Senator Di Natale said.
The recommendations in this first report are limited to public disclosure, transparency and financial reporting of multinational groups operating in Australia. The more substantive recommendations that focus on measures against the practices of base erosion and profit shifting will be dealt with in the inquiry’s final report, due in November.
Media contact: Jennifer Faerber 0438 376 082