Stellar paid little tax in Australia, the report finds, pointing to a tax bill of $2m on a taxable income of $6.6m, from a total income of $132.5m. “It is particularly egregious that ATO contractors lack transparency and have highly questionable tax practices,” he said. “We strongly refute any suggestion regarding reduced tax liabilities … Serco does not enter into any arrangements for the purpose of minimising tax,” it said. It rejected the suggestion that it paid little tax in Australia, saying its effective tax rate was 33.5% in 2014 and 32% in 2015. “Labor would also require listed firms to report tax haven dealings as a material tax risk,” he said.

Source: The Guardian December 10, 2018 04:28 UTC