Why it matters: This is the first time any of the schemes used to avoid the MAAL have been revealed.
Context: The Tax Office audited 44 companies that restructured to avoid the MAAL. Audits of Microsoft, Apple, Facebook and Google raised $1.25 billion.
What next: The involvement of US companies could lead to referrals to US regulators.
US tech giants Uber and Facebook set up new company structures to sidestep Australia’s multinational tax avoidance law using PwC advice, days before the legislation came into effect in January 2016.
Uber transferred its Australian business to three general partnerships registered in the Netherlands, in a structure devised by its then tax adviser PwC to bypass the new law.
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Neil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards. Connect with Neil on Twitter. Email Neil at nchenoweth@afr.com.au
