The Australian Taxation Office issued a combined $2.9 billion in tax bills this month to seven multinationals, including Apple, Google and Microsoft. The ATO’s actions come three months before the effective date of Australia’s widely heralded diverted profits tax, known as the Google tax. Here’s what you need to know about this important legislation.
Yesterday UK voters decided to leave the European Union. The decision will have serious implications for multinationals operating in the UK. It’s important to keep in mind, however, that any changes resulting from yesterday’s referendum are months away. Now is the time to take a measured approach to how your business will likely operate in a UK that is not part of the EU, basing your strategy on the probable consequences of yesterday’s vote.