Australia to Establish Global Minimum Tax Working Group

The Australian Tax Office is setting up a working group to help the government apply global minimum tax rules that took effect at the start of this year.

Australia said in its 2023-2024 budget that it would adopt the global minimum tax, a levy that seeks to tax multinational companies with revenue over €750 million ($811 million) a minimum of 15% in each country they operate.

• The group will solicit public feedback on administrative aspects of the tax, including Australia’s global minimum tax returns, the systems that companies put in place to comply with the tax, and what guidance the ...