The Tax Justice Network Australia (TJN) has recommended that the Government introduce legislation, modelled on US legislation, to protect and reward private sector whistleblowers that expose tax evasion, tax avoidance and fraud against all levels of government in Australia. The reward, it said, should be a proportion of any funds recovered as a result of the information provided by the whistleblower.
It also recommended that MNEs be required to submit a worldwide combined report, including consolidated accounts, to the ATO and the report should provided a country-by-country breakdown of the enterprise’s employees, physical assets, sales, profits and taxes actually due and paid.
The TJN made its recommendations in its submission to the Treasury Issues Paper on Implications of the Modern Global Economy for the Taxation of Multinational Enterprises.
[LTN 107, 5/6/13]