According to a Reuters story today, Australian officials are planning to have large corporations like Apple and Google disclose their tax arrangements in an attempt to crack down on alleged tax avoidance by multinationals. Australian Assistant Treasurer David Bradbury said that the "increasingly borderless global economy means big firms often have no tax liability in a country."
How do corporations manage to avoid paying taxes even in countries where they have a major local presence? Some multinationals have been accused of moving income to countries like Ireland (with a corporate tax rate of 12.5 percent) where tax rates aren't as high as those in Australia (30 percent). The new Australian
