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Hundreds of companies pay no tax, says ATO as it releases latest corporate tax transparency data – ABC News

Of the more than 2,300 entities on the tax office’s latest transparency report, more than 30 per cent of them did not pay any tax, the ATO says.

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Hundreds of companies have reduced their tax bills to zero, according to the Australian Taxation Office’s latest corporate tax transparency data.
Key points:

  • The proportion of entities with nil tax payable has decreased over the past three years, from 34 per cent in 201617 to 32 per cent
  • The ATO confirmed it had, for the first time, invoked the Diverted Profits Tax law to fight multinational tax avoidance
  • Australian public and foreign-owned entities have a higher portion of “nil tax payable” when…

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