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from the accountants-legally-accounting dept.
The Australian Taxation Office (ATO) has warned that the nation's attempts at imposing a "Google Tax" are already being circumvented, and suggested big accountancy firms have found a way around efforts to stymie multinational tax avoidance.
Australia's Google Tax, formally known as the Multinational Anti-Avoidance Law (MAAL), is modelled on the UK's and imposes penalties on companies that move money offshore for the sole purpose of legally-but-cynically avoiding tax.
[...] Indeed the Office says it's just found a new [technique] it considers "artificial and contrived," as it "involves interposing an entity described as a partnership between the foreign entity originally making supplies to Australian customers, and the Australian customers."
"The partnership has one resident corporate partner with a minority interest in the partnership, therefore purporting to characterise the partnership as an 'Australian entity' for the purposes of the MAAL." But nothing changes in the business' actual operations, and the ATO says: "The arrangements have little, if any, commercial basis."
(Score: 0) by Anonymous Coward on Saturday September 17 2016, @05:24AM
I totally agree.
I, too, look forward to the mad max future you describe for Australia.
It would mean Australians were being treated similar to the refugees they have black bagged off to the Nauru gulag to be tortured and abused. (yes, that is happening right now and they don't give a fuck)
http://www.nytimes.com/2016/08/31/opinion/australias-gulag-archipelago.html [nytimes.com]
(Score: 0) by Anonymous Coward on Saturday September 17 2016, @06:23AM
Taking a tangent away from the story but, after reading that news story and ignoring the bullshit, I come away with the impression the detention centres were extremely successful.
Peaking at 25k illegal entrants in a year near the beginning (primary by paid smugglers) down to near zero. It's no longer profitable to smuggle people over here. Refugees who submit directly to customs and border control continue to be processed as always (ie: asylum seekers requesting legal entry). All of the valid entrants who entered illegally have also been processed and settled on the mainland. Most of those not eligible have been returned or resettled elsewhere.
All that's left in the article is pearl-clutching shrieks from organisations with policies of using exaggeration and outright lies to drum up media attention.
(Score: 1, Informative) by Anonymous Coward on Saturday September 17 2016, @09:12AM
Then I will take away the fact that you are a sociopathic cunt.
If you are ok with systematic rape, sexual abuse (including children) then I very, very glad that I am not like you.
Also, you make me sick.