Google reportedly on ATO audit hit list
Some of the world’s leading tech companies are reportedly being audited by the tax office for off-shore ‘super profit’ shifting.
Up to 10 multinational companies, one believed to be the Google, have been forced to open their books as the ATO begins a $1.5 billion tax hunt.
Commissioner of Taxation Chris Jordan told News Limited that a specialist team of 50 auditors was now ‘camped out’ in the Australian offices of some high-profile global companies.
“We are now saying to them ‘we will camp in your premises, talk to your clients and check every bit of paper’,” he said.
“We are taking an aggressive approach to multinationals. There is a lot of money involved and a lot of community concern. They are already starting to baulk at the tax office camped in their offices, but we want people to understand there is a consequence to adopting the outer limits.
“PAYE salary earners have no choice, tax gets taken out every fortnight … ultimately it means the average person is carrying the burden.”
Treasurer Joe Hockey earlier raised the possibility of changing tax laws to catch multinational tech companies evading the law.
“When multinationals divert profits overseas … they are cheating ordinary taxpayers, who pay their fair share,” he said.
“We continue to work closely with our international colleagues in strengthening the integrity of our tax systems.”.
The ATO would not reveal the identity of the companies.
