Australian Govt Pledges Action on Google Tax Evasion

The Australian Government is looking into new legislation that will close loopholes for mega-corporations like Google that generate huge revenues in their country, but pay relatively little in taxes. Google and other companies have a system of international subsidiaries which provide tax shelters.

The tax practices of corporations such as Google have been under constant scrutiny in Australia and in other jurisdictions over the past several years, due to the habit several such technology giants have of using offshore subsidiaries to avoid paying tax in some countries.

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