We're leading G20 tax evasion fight: govt

The federal government says it's leading the charge on tackling tax evasion through the G20, dismissing suggestions it is going soft on multinationals.

The Abbott government has dismissed claims it's going soft on multinational tax evasion.

Labor has criticised the government for rolling back transparency measures and proposing such a light touch on regulation that it will erode the tax take.

In government, Labor set about closing loopholes that allowed multinational companies to pay a lower rate of tax than Australian small businesses.

But much of that is now being reversed, the opposition says.

The government disagrees, insisting it's going ahead with most of the measures targeted at corporate profit shifting.

"We are also taking a leading role in global efforts to tackle tax evasion through our presidency of the G20," a government briefing note obtained by AAP says.

Labor claims a number of shelved measures amount to foregone revenue of more than $1 billion over a four-year period.

But the government says most were not implementable or weren't introduced by Labor.

It wants Opposition Leader Bill Shorten to release any advice he has about how the measures can be practically implemented without hurting businesses.


Share

1 min read

Published

Updated


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world