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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Australia Expected Returns Over $2B Under Tax Avoidance Legislation

April, 06 2017
watermark Economic news

The Australian Tax Office intends to pursue multinational companies over seven global business amounting to more than A$2 billion unpaid taxes following the tax avoidance legislation. Although, the company names were not made public. The Multinational Anti-Avoidance Law was implemented in December 2015 to reduce tax evaders particularly for companies that have an annual income exceeding A$1 billion.


Australian Treasurer Scott Morrison commented that they wanted to make sure that large global companies earnings which Australian citizens contributed, pay their fair share of taxes from the Australian government to fund needed infrastructures and other services in the country.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.