By Justin Hendry on Dec 11, 2020 12:30PM
Annual transparency report released.
Some of the world’s largest IT companies avoided paying any Australian tax last year, while a number of others paid their largest tax bill in years, according to new tax data.
The Australian Taxation Office on Thursday published its sixth annual corporate tax transparency report, which discloses the 2018-19 tax bills of the largest companies operating in the country.
It covers 2311 Australian public and foreign-owned companies with incomes of $100 million or more and Australian-owned resident private companies with an income of more than $200 million.
The report shows that 741 of these companies paid no tax in Australia in 2018, including four IT companies that generated a taxable income – marking an improvement of previous years.