Australian Tax Commissioner Focuses on Profit Shifting Crackdown

Australian Tax Commissioner Rob Heferen has endorsed more crackdowns on company profit shifting via litigation and other avenues.

Heferen said in a speech Tuesday that Australian company income tax collections are important as they are significantly higher in the country than in other OECD members, and that its company tax rate makes Australia “highly susceptible” to profit shifting.

“Where multinationals choose to continue with risky behaviour, we have mature compliance programs to detect, assess and treat these risky behaviours with strong economic and legal expertise,” Heferen said.

“We continue to challenge aggressive profit shifting and will litigate disputes to test ...