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Tax authorities in five countries on Thursday staged an unprecedented “day of action” against a multinational financial institution that included raids, demands for information and warning letters to clients.

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  • Yes, it 'looks' good doesn't it, it actually gives the impression that the wealthy will finally be held to account, for their selfish tax-evading ways.

    However my cynical mind cannot help but wonder, if the 1% and Billionaire class actually dont mind the sacrifice of some of their lessor up-n-coming rivals.

    To give the restless and increasingly resentful masses the *illusion* that all of the rich can and are, finally, being held to account ...and to distract and even stave off, the rising rebellions.

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    • It is estimated that company tax as a percentage of total tax revenue will fall steadily from a peak of 19.6 per cent in 2019–20 to 18.3 per cent in 2022–23. The company tax projections have factored in an increase in company tax collections due to extending the Australian Taxation Office’s (ATO) Tax Avoidance Taskforce, with most of this flowing through in 2021–22 and 2022–23. However, this is expected to be offset due to several liquefied natural gas (LNG) companies having accumulated tax losses.

      Revenue Budget Review 2019–20 Index

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