THE HON JOSH FRYDENBERG MP
THE HON MICHAEL SUKKAR MP
Assistant Treasurer Minister for Housing
18 December 2019
GOVERNMENT’S TAX AVOIDANCE LAWS SEES GOOGLE SETTLE WITH THE ATO FOR $481.5M
The $481.5 million settlement between the Australian Taxation Office (ATO) and Google is strong evidence that the Coalition Government’s tax avoidance taskforce and tough laws are working to ensure that all taxpayers pay the right amount of tax.
The Coalition Government first established the Tax Avoidance Taskforce in the 2016 Budget and has boosted its funding in the 2019-20 Budget.
Since its establishment, the Taskforce has increased its scrutiny of the tax affairs of multinationals and large corporations raising more than $15.5 billion in liabilities.
The Government’s successful implementation of its Multinational Anti-Tax Avoidance Laws (MAAL) has seen many large businesses restructure their operations to be compliant with the law.
The ATO has been resolute in tackling tax avoidance and holding multinationals and large companies to account.
Ensuring large companies and multinationals pay the right amount of tax means we can continue to deliver the essential services Australians rely on.