Tech giants in Australian govt’s tax reform firing line

Tech giants moving the “apparent location” of their “bits and bytes” production to minimise tax will face tighter rules under the Albanese government’s multinational tax reform package.

The Australian Treasury has released a draft plan to crackdown on large multinationals claiming tax deductions for payments relating to intangibles connected to tax havens like Bermuda and the Cayman Islands.

CICTAR’s Jason Ward was interviewed by InnovationAus.com on the potential impact of the proposals and what more is needed