How much tax should a company pay on $15bn income? Glencore (formerly Xstrata) paid almost zero tax over the past three years. As is the trend among the new wave of digital giants, such as Google and Apple, multinationals are increasingly likely to regard the payment of tax in Australia as an optional affair. The ramifications for the countrys tax base are dire. And as a mining company, Glencore would be the recipient of huge government subsidies, as shown this week by The Australia Institutes research (see post from Tues). smh.au/business/glencore-tax-bill-on-15b-income-zip-zilch-zero-20140626-3awg0.html#ixzz35mypR480
Posted on: Fri, 27 Jun 2014 05:21:17 +0000