Oxfam calls for tax avoidance crackdown
Oxfam Australia has responded to the ATO's latest tax transparency data, claiming that the results are yet more evidence that the government must act on corporate tax-avoidance practices.
Oxfam Australia’s Finance for Development Manager Joy Kyriacou said the new data showed that more than 30 per cent of large privately listed Australian companies, with an income greater than $200 million, had paid no tax at all in 2013-14.
“In total, the data reveals there are 98 Australian companies that paid no tax in Australia in 2013-14, including household names like McDonald’s in Asia and the Pacific; Hoyts, famous for its cinemas; Peters Food Group, makers of Peters ice cream; and Snack Foods Limited. Australians would expect much more from these companies,” Ms Kyriacou said.
The latest data follows the 2015 data release, which saw the ATO officially lift the veil on the tax activities of some of the largest multinational corporations.
“The evidence is clear. This further damning data shows that the federal government must act on corporate tax avoidance to stop revenue being drained from national budgets. Oxfam is also alarmed by reports that the government is considering cutting taxes for multinational companies, which are already at an advantage because they’re not paying their tax. As a priority, multinational companies must first pay their fair share of tax,” Ms Kyriacou added.
“As an organisation that fights for the elimination of poverty, Oxfam knows first-hand that these tax-avoidance practices are bad for Australia and bad for the countries in our region – poorer nations globally lose at least US $100 billion a year due to tax dodging.”