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Senate Inquiry into Corporate Tax Avoidance continues to sit in 2018

January 2, 2018 - 00:16 -- Admin

"Exxon’s primary Australian company is directly owned by a shell company in the Netherlands and the Dutch company is owned by another subsidiary in the Bahamas." [Tax Justice Network submission to Senate Economics References Committee Inquiry into Corporate Tax Avoidance]ExxonMobil Australia Pty Ltd operates under the brands ExxonMobil Australia, Esso and Mobil. It declared no taxable income in 2013-14, 2014-15 and 2015-16 despite having generated a total income during these years of 24.7 billion within this country.  [Based on Australian Taxation Office Report of Entity Tax Information data]The Senate Economics References Committee Inquiry into Corporate Tax Avoidance commenced on 2 October 2014 and continues to sit until 30 May 2018.The Inquiry’s 154 submissions to date make for interesting reading and can be accessed here (1 to 127 ) and here (128 to 154).