Shadow treasurer Jim Chalmers says he will release a fully costed policy prior to the federal election aimed at preventing “multinational tax dodging”. He claims that 40% of multinational companies’ profits are being channelled through tax havens like the Bahamas and the Cayman Islands, and it is these profits that Labor intends to crack down on.
Chalmers says such tax havens hurt taxpayers and Australian companies that are doing the right thing.
From The Australian;
