Australia wins plaudits for move on multinational tax dodgers but much more is needed on fossil front

Amid fossil fuel corporate fury at any move to tax them or cap their soaring price rises, the tax reform moves of the Albanese government have been yet modest. The country-by-country reporting initiative however has drawn international plaudits. Callum Foote and Michael West report on the progress and the challenges in funding Australia’s future.

Jason Ward, Principal Analyst, CICTAR (Centre for International Corporate Tax Accountability & Research), says: “The Australian government is showing global leadership by introducing public country-by-country reporting for multinationals. This move will increase transparency and accountability and shine a bright light on where and how multinationals shift profits to avoid the obligation to help fund essential public services and infrastructure around the world.”