Australia says Facebook and Google are paying more local tax
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Australia's treasurer says Facebook, Google and other multinational companies are paying tax in Australia on their Australian profits instead of shifting income to low-tax countries since the government cracked down on tax avoidance.
Treasurer Scott Morrison told Parliament on Tuesday that Australia will receive an extra 2 billion Australian dollars ($1.5 billion) in tax from multinational giants in the current fiscal year because of the Multinational Anti-Avoidance Law, which took effect in late 2015.
He says the government had given the Australian Taxation Office "the power, the resources and the penalties to get the job done."
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Facebook did not immediately respond to a request for comment on Tuesday. Google declined to comment.
The law, dubbed the "Google Tax," targets global companies with annual incomes exceeding AU$1 billion.