ATO estimates large corporate tax gap – 17 October 2017


ATO estimates large corporate tax gap – 17 October 2017

Tax insights

On 11 October 2017 the ATO released a new publication called “Tax and Corporate Australia” addressing the tax performance of the top 1,400 large corporate groups (turnover >$250m) for the 2014-15 year. It contains the ATO’s tax gap estimate for the segment, being approx. $2.5 billion, or 5.8% for the year ended 30 June 2015.

The ATO considers the relatively low tax gap estimate reflects a tax system that is operating well. The 5.8% tax gap estimate demonstrates a high degree of voluntary compliance, and compares well globally. The ATO considers that there is a “strong compliance culture” in the large market and acknowledges that the tax affairs and transactions affecting large business are complex, and there can be reasonable differences of opinion.

ATO estimates large corporate tax gap – 17 October 2017
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