One of the world’s most valuable companies has been reporting billions in profits and benefiting from holding government contracts while also aggressively avoiding paying their fair share of tax in Australia according to a report released this morning.
The report, jointly authored by the Centre for International Corporate Tax Accountability and Research (CICTAR) and TaxWatch, examines how Microsoft Global Finance – a tax resident of Bermuda- uses tax havens and shell companies to avoid their tax obligations here in Australia.
The report has renewed calls from the Community and Public Sector Union (CPSU) for the Federal Government to prioritise ending multinational tax avoidance and ensuring that companies that are considered for government contracts pass tax standards.
Quotes attributable to Michael Tull
“Big businesses should not be filling their pockets with taxpayer money while they duck and weave their tax obligations. The Government must put an end to this.”
“If a business wants a government contract then they have to be completely transparent and show that they are meeting their tax obligations here in Australia.”
“The tax that Microsoft and other multinational companies should be paying could be invested in cutting wait times for services, investing in easier and faster digital services, better services and more public sector jobs for regional Australia.”
The CICTAR report can be found here:
