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Hockey flags multinational tax crackdown

Aug 17, 2015
Treasurer Joe Hockey promises the government is set to go after multinational companies that dodge tax.

Treasurer Joe Hockey promises the government is set to go after multinational companies that dodge tax.

The Federal Government will initiate a crackdown on multinational tax dodgers within a month, Treasurer Joe Hockey says.

He’s promised to put legislation to parliament next month as a Senate committee prepares to release a report which is expected to call on the government to name and shame those companies which avoid tax.

The government will go after 30 primarily offshore-based companies that aren’t paying their fair share of tax, Hockey told ABC radio.

Hockey said committee chair Labor senator Sam Dastyari had questions to answer about the release of recommendations to media outlets before the report had been signed off by other senators.

“It’s extraordinary,” Hockey said.

“This is a very serious issue that goes to the heart of the integrity of the entire Senate.”

Hockey accused Dastyari of trivialising the issue by playing political games.

Dastyari denied speaking specifically about the unreleased report’s recommendations, insisting what he said were his personal views.

He argued there was a thirst for information within the community about what companies were up to.

“These companies do care about their reputations and they do care about their market share,” he told ABC TV.

“Exposing some of the worst practices, I believe, puts a lot more community pressure on these companies.”

Independent senator Nick Xenophon, who is also on the inquiry committee, said transparency was key.

“Whatever the government comes up with, the Senate will be in a much better position to consider that legislation given the forensic look we’ve had at this whole issue,” he told ABC radio.

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