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Tech companies face tougher tax laws says Conroy

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Tech companies face tougher tax laws says Conroy

Tech giants could be forced to cough up more tax in the future after Senator Stephen Conroy announced the government will look at new legislation.

Google has come under fire after paying $74,000 of taxes in Australia in 2010/11 despite earning an estimated $1bn in revenue, by billing through its Irish office.

The Minister for Broadband and the Digital Economy told the CeBIT trade show in Sydney the government is set to clamp down on it, with similar legislation to mining taxes.

According to a report in the Australian Financial Review he said: “This is a problem that goes across all sectors, so we’re bringing across legislation because we think we’ve got to ensure Australians get a fair share.

“[It’s] just like with the mining tax where we want to make sure Australians get a fair share of the wealth that Australians own.”

Draft legislation is set to be laid down soon.

 

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