Transparency Group Lauds Passage of Australia Tax Reporting Law

Australia’s new law requiring corporations to make their country-by-country tax information public will be helpful for policy makers to combat tax avoidance, a corporate transparency group said.

In a statement released Monday, the Financial Accountability and Corporate Transparency, or FACT, Coalition applauded the Australian government for the Nov. 29 passage of its public country-by-country reporting bill.

“This new law will provide the public with a deep look into the tax and operational practices of many of the world’s largest corporations, some of whom use profit-shifting and other strategies to dodge billions of dollars in taxes every year,” said Ian ...