CICTAR applauds Australia Treasurer calls for tax reform—let’s start with multinationals
Jason Ward, CICTAR’s Principal Analyst
Jason Ward, CICTAR’s principal analyst, has welcomed a speech made by Australian Treasurer Jim Chalmers who has called for tax reforms to help boost productivity.
Quoted in specialist tax publication, Tax Notes, Ward applauded the minister’s calls for a wider debate aimed at putting the Australian tax system on a more solid footing for the future. Ward argued for a focus on closing loopholes exploited by the tech giants and for going after multinationals who are paying low single-digit rates in Australia. He cautioned, however, against steps like raising GST, which would hit working people, while big companies are still underpaying.
“We obviously would like to see a continued focus on making sure that large corporations and multinationals are paying their fair share. There are lots of opportunities to ensure integrity in Australia’s tax system and make some of the largest companies pay”