Due to laws passed in the recent past by the Australian Labor Government, the Australian Tax Office (ATO) has gained the ability to start publishing tax figures for companies earning over $100 million annually. With the 2013-2014 financial year just gone being the first opportunity for these figures to be published, the public has learned of some seriously large tech companies that ended up paying nothing, this time around.
Overall there have been 554 Australian public companies and 985 business' that have over 50 percent foreign ownership posted in this report, showcasing that 26 percent of these companies paid no tax in the 2013-2014 financial year. The no-payment list includes big names such as Acer, Alcatel-Lucent, Amaysim, ASG Group, Citrix, Cubic Transportation Systems, Dimension Data, HP, Ingram Micro, Macquarie Telecom, NEC, the Nokia Group, NTT, Verizon and Vodafone, reported iTnews.
A select few of these companies including Ingram Micro and HP posted no tax payments due to making an overall loss, with the ATO outlining that approximately 50% of these no-tax paying companies have been subject, or are currently subject to, official ATO reviews in the last three years.
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