The neon Google sign in the foyer of Google's new Canadian engineering headquarters in Kitchener-Waterloo, Ontario January 14, 2016. REUTERS/Peter Power
CANBERRA: Australia announced a further crackdown on multinational tax avoidance in its annual budget on May 3, including the planned introduction of a UK-style diverted profits tax (DPT), that it expects to raise A$3.9bil (RM11.67bil) over the next four years.
The government is creating a new Tax Avoidance Taskforce of 1,000 specialist officers to police the new regime with harsher penalties for those found flouting the rules.
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