ATO claims $12b win against multinationals

Commissioner of Taxation Chris Jordan has compared tax avoiders to drug cheats, with his comments coming after the ATO and Rio Tinto reached a $1 billion settlement last week.

Jordan says the ‘model’ that resource companies have been using to avoid tax has been broken by the ATO, resulting in savings to taxpayers of around $12 billion. he also says that getting multinationals to change their behaviour in terms of their tax affairs is far preferable to the ATO having to do constant audits of them.

From The AFR:

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