nemo wrote: ↑Tue Feb 23, 2021 1:56 pm In Australia, the site paid nearly $13 million ” 30 per cent ” during the 2017-8 financial year, according to documents from the Australian Tax Office (ATO). It paid a similar amount to the previous financial year despite earning nearly $150 million more due to a reduced taxable income.

FACEBOOK AUSTRALIA PTY LIMITED Overall income Taxable income Tax paid Tax rate
2017 – 2018 $479,897,834 $42,465,671 $12,739,701 29.99%
2016 – 2017 $331,366,976 $41,914,024 $12,574,207 30%

https://www.gizmodo.com.au/2020/02/how- ... australia/

This Is How Little Tax Tech Companies Pay In Australia
Some of the biggest tech companies in the world have been known to shift profits around to minimise the amount of tax paid. The Australian Taxation Office (ATO) just released a report for the 2017/8 financial year, and while most companies appeared to be paying the full corporate tax rate, others paid a lot less. Some even paid nothing.

Dr Antony Ting, a tax evasion expert at University of Sydney, explained to us in December last year that paying a portion of their total income is common among multi-national enterprises (MNE) like Facebook and Google.

“Even though MNEs like Google and Facebook operate as global highly integrated enterprises, evidence revealed that their subsidiaries in Australia are reporting profit margins much lower than the group’s overall profit margins, and much of the group’s profits are booked in low tax jurisdictions,” Dr Antony Ting told us.

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