Australia's 30 per cent corporate tax rate isn't globally competitive, according to the chief executive of biotechnology giant CSL, amid calls for it to be cut.
"No. No, I would say it's not globally competitive at this particularly point," Paul Perreault told journalists on CSL's first-half profit results briefing on Tuesday.
There have been calls by business leaders and the Labour Party for the nation's 30 per cent corporate tax rate to be cut as it's one of the highest in the world.
Britain's corporate tax rate stands at 21 per cent, while Ireland's 12.5 per cent rate has attracted major companies like Google and Facebook.
The global average corporate tax rate is around 23 per cent, according to KPMG.
Despite Australia's high rate, Melbourne-based CSL has no plans to leave home, Mr Perreault said.
"We're not leaving Australia, CSL is staying here," he said.
"We're not leaving because of tax, but if you want to attract new industries and jobs and to create top rate manufacturing facilities then I think you have to be competitive with the people that seem to be getting more of the play."
Mr Perreault said Australia's research and development tax incentives were quite important to CSL because it develops a lot of its research here.
"It is a factor when we make decisions, but to be honest with you, we also have to look where our capabilities are, our scientists and expertise lie," he said.
"And as a global organisation we'll make sure that we develop this platform no matter where it is. But I can tell you that it does make a difference to innovation here in Australia to have the R&D tax credit in place."
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