Original article by Joanna Mather
The Australian Financial Review – Page: 17 : 5-May-16

The Corporate Tax Association’s Michelle de Niese says the diverted profits tax outlined in the Australian Government’s May 2016 Budget may prove to be broader in scope than a similar tax in the UK. Companies found to have engaged in profit-shifting will face a tax rate of 40 per cent on such profits, compared with the corporate tax rate of 30 per cent. Mark Konza of the Australian Taxation Office adds that the new tax may affect more taxpayers than the multinational anti-avoidance law, which was introduced in 2015.

CORPORATES
CORPORATE TAX ASSOCIATION, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, RSM PTY LTD, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, NETFLIX INCORPORATED