Public consultation to toughen the multinational anti-avoidance law

Multinational companies who attempt to avoid Australian taxes will see more loopholes closed under proposed new legislation. The Turnbull Government’s Multinational Anti-Avoidance Law (MAAL) took effect from 1 January 2016 and prevents multinationals from escaping Australian tax by using artificial or contrived arrangements to avoid having a taxable presence in Australia. Today the Government has…