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Google gets Australian tax office demand to pay more, says to fight it

April 29, 2017 By Harry Pearl SYDNEY (Reuters) – Alphabet Inc’s Google said it will challenge amended tax assessments issued by the Australian Taxation Office (ATO), which is trying to claw back billions of dollars from multinational corporations citing unpaid taxes. The ATO has increased scrutiny over how much tax multinationals operating in Australia pay. In December, it said it was pursuing seven global businesses over A$2 billion ($1.50 billion) in unpaid tax. While the ATO has not named the businesses it is pursuing, Google’s Australia unit said in accounts…

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Australian court dismisses Chevron appeal in landmark tax case

April 21, 2017 MELBOURNE (Reuters) – Chevron Corp lost an appeal on Friday against the Australian tax office in a landmark case in which the U.S. energy giant contested a tax bill of A$340 million ($260 million), including penalties and interest. The full bench of the Federal Court dismissed the appeal against an earlier ruling that Chevron underpaid taxes by setting up a A$2.5 billion intercompany credit facility with an abnormally high interest rate which effectively lowered its taxable income within Australia. Chevron said it was disappointed by the judgment…

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