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Why more than 800 large companies paid no tax in Australia?
Armstrong
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The Australian Taxation Office (ATO) report discloses that over 800 large companies did not pay any tax in the fiscal year 2021-22. In its ninth corporate tax transparency report, encompassing 2,713 corporate entities, the ATO observed a rise in overall tax collection, attributed to surging profits in mining companies and elevated oil prices. However, the report also highlights that 831 companies, constituting 31 percent of the total, did not contribute any tax payments. Armstrong, a certified Chartered Accountant of Australia, brings forth his extensive experience in Audit and Taxation, spanning over two decades, to elucidate the issue. Produced by RaySel.
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