The world’s biggest tech companies are diverting billions of dollars out of Australia and paying minimal tax, at the same time as they complain to the Trump administration over the burden of local news and social media rules and push for the president to intervene.
US-based giants Meta, Amazon, Netflix, Disney and Google made a combined $15 billion in revenue in Australia last year, but after shifting billions offshore for “distribution fees” or by reselling advertising for a parent company, they paid tax on significantly depressed earnings.
Loading...
Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
