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Old 06-15-2015, 10:13 AM
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edward222 edward222 is offline
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Default New law on tax avoidance

Credit to: Tax Avoidance News : http://www.offshorenewsflash.com/201...tax-avoidance/

Quote:
Sydney, 10 June (Argus) — The Australian government has released legislation to tighten rules governing corporate taxation such as the use of offshore tax havens. The bill is not aimed at any particular sector of the economy, but several resource and commodity companies have come under scrutiny following a Senate inquiry on the issue.

The bill seeks to target companies that carry out business activity in Australia but book the revenue generated from that activity in an offshore low tax or no tax jurisdiction. Treasurer Joe Hockey did not specify industries or companies the proposed law will target. A Senate inquiry into corporate tax avoidance revealed that UK-Australian resources firm BHP Billiton was in dispute with the Australian Tax Office over a A$522mn ($401mn) tax bill for booking mining profits through its Singapore marketing office.
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Old 01-05-2019, 08:56 AM
divyanshisharma divyanshisharma is offline
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Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. Tax sheltering is very similar, although unlike tax avoidance tax sheltering is not necessarily legal.
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