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Australia Seeks Input on Tougher Tax Rules for Multinationals

Aug. 5, 2022, 5:58 PM

Australia’s new government is moving forward with proposals to crack down on what it contends are multinational companies’ attempts to dodge Australian taxes.

The changes under consideration would restrict multinationals’ ability to claim certain deductions and force them to disclose more information about their taxes. The proposals “seek to target activities deliberately designed to minimize tax,” Australia’s Treasury said Friday in a consultation paper that seeks public comment on the proposals.

The changes are aimed at ensuring that multinationals “pay their fair share” of tax in Australia, to help fund vital services, address budget issues, and level the playing ...