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Specialist reference group on ways to address tax minimisation of multinational enterprises



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David Bradbury MP Assistant Treasurer

Minister Assisting for Deregulation

Media Release

SPECIALIST REFERENCE GROUP ON WAYS TO ADDRESS TAX MINIMISATIONOF MULTINATIONAL ENTERPRISES

Assistant Treasurer David Bradbury has today announced the members of the specialist reference group on multinational corporate taxation.

The formation of this group, made up of business representatives, tax professionals, academics and the community sector, is the first step in Treasury’s examination of multinational tax minimisation strategies and its risks to the sustainability of Australia’s corporate tax base.

“The way companies do business is changing and we need to ensure that international tax systems keep pace,” said Mr Bradbury.

“I have asked Treasury, led by Revenue Group head Rob Heferen, to begin work on a scoping paper that will set out the risks to the sustainability of Australia's corporate tax base from multinational tax minimisation strategies and identify potential responses.

“The specialist reference group will feed into that process, with Treasury drawing on members’ knowledge and expertise.

“We don’t want to see a future where hard-working Australian families and businesses have to pay disproportionately high taxes because multinational corporations are not pulling their weight.

“We need to make sure that we are doing everything possible through our domestic laws to keep up with the changing nature of global commerce in the information age.

“More importantly, Governments all around the world need to re-examine many of the key rules of international taxation, which are not keeping up with the changing business models and tax planning arrangements of many multinational companies.”

Members have been appointed to the group in their personal capacity, based on their high level of expertise in this area, rather than as representatives of particular organisations.

A key role of the specialist reference group — and the key focus of the Treasury paper — will be to build community understanding of the nature of the challenges we face.

In addition to the meetings of the specialist reference group, Treasury will also consult directly with interested stakeholders.

The first of several meetings of the reference group will be in February. The Government will release the Treasury scoping paper for public consultation in mid-2013.

10 December 2012

Media contact: Justin Koek 0400 126 939

ATTACHMENT: Specialist Reference Group Membership

Rob Heferen (Chair)

Executive Director, Revenue Group

The Treasury

Michael Bersten

Partner

PwC

Michael D’Ascenzo AO

Expert in tax policy and administration

Commissioner of Taxation (2006 - 2012)

Frank Drenth

Executive Director

Corporate Tax Association of Australia

Serena Lillywhite

Mining Advocacy Coordinator

OxFam Australia

Ross Lyons

General Manager - Tax, Asia Pacific

Rio Tinto

Tim Lyons

Assistant Secretary

ACTU

Peter Madden

Partner

Deloitte

Jason Sharman

Director, Centre for Governance and Public Policy

Griffith University

Greg Smith

Adjunct Professor, Australian Catholic University

Senior Fellow, The Melbourne Law Masters

Tony Stolarek

Partner

Ernst & Young

Niv Tadmore

Partner

Clayton Utz

Brian Wilson

Chair

Foreign Investment Review Board

Mark Zirnsak

Director, Justice and International Mission Unit

Uniting Church