G20 host Australia faces hard truths of multinational profit shifting

Sadiq, Kerrie (2014) G20 host Australia faces hard truths of multinational profit shifting. The Conversation.

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The G20 Finance Ministers have the opportunity this weekend to endorse the initial recommendations of the OECD on how to address the global problem of multinational tax avoidance.

The work of the OECD on the issue to date is substantial. Most notable is the adoption by many nations, including Australia, of the Common Reporting Standard for the automatic exchange of tax information. This standard will allow significant inroads to be made into tax avoidance, particularly by individuals sheltering money offshore. This is the first step in an ambitious tax reform program.

There is a long way to go if we are to end the issue now known as Base Erosion and Profit Shifting (BEPS). This week’s release of the first of the OECD recommendations contains some positive signs that further advances will be made. It also recognises some hard truths.

Impact and interest:

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ID Code: 93755
Item Type: Other
Refereed: No
Keywords: International Tax, Tax reform, G20
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Taxation Accounting (150107)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Deposited On: 14 Mar 2016 00:36
Last Modified: 14 Mar 2016 00:36

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