Earlier this week, a report was broadcast featuring a number of tax experts, including John Christensen, founder of the controversial Tax Justice Network, discussing the issue.
In the broadcast it was claimed that the Australian Tax Office has spent more than $400m pursuing wealthy tax dodgers, leading to 3,000 people being audited and 20 convictions.
The reporter, Greg Hoy, also claims that “the majority” of the 100 leading Australian companies on the ASX use what it describes as “secrecy jurisdictions”. The companies named include Rupert Murdoch’s News Corporation and Westfield Shopping Group which, among others, owns one of the UK’s largest shopping malls.
Towards the end of the seven minute programme, which can be viewed here, Hoy asks Australia’s assistant treasurer, David Bradbury, if the country can expect the Australian government to “answer the call to wage war on the treasure islands of tax” when it takes over presidency of the G20 in 2014.
Bradbury replies: “We will continue to work in all international fora that we participate, and in all capacities, to advocate the case for greater transparency. But in the end, you do need to bring other nations to the table to reach agreement on the terms under which you enter into your information exchange agreement.”
