Australia crackdown on Google taxes seen holding investment risks

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Australia has announced a crackdown on tax practices that big firms use, legally, to shift income to countries with low tax rates such as Ireland and the Netherlands. (Reuters) Australia has announced a crackdown on tax practices that big firms use, legally, to shift income to countries with low tax rates such as Ireland and the Netherlands. (Reuters)
SummaryAustralia has announced a crackdown on tax practices that big firms use, legally, to shift income to countries with low tax rates such as Ireland and the Netherlands.

some other country will get less tax out of that transaction," he said.

He said major nations would need to minimise corporate dealings with low-taxing jurisdictions, such as Ireland and Bermuda.

Another tax expert believes that governments will prevail in their battle to capture more tax revenues. "Those companies like Google and Amazon and Apple have had a very good run for a number of years, and this run is going to stop now. They will start paying more tax," said one adviser to big firms, who declined to be named because he was not authorised to speak to the media.

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