It is worth taking a brief look at this report, as it will help...

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    It is worth taking a brief look at this report, as it will help you understand why many Australian companies are losing out to overseas-based multinationals, and why we are all becoming poorer because of it.
    Let me explain, briefly.
    Cochlear is an Australian company, manufacturing principally in Australia and selling principally internationally (in many jurisdictions). Cochlear pays company tax on its profits, principally in Australia but also in many other countries in which it operates. The rate of company tax that it pays across all these jurisdictions is close to 30% (allowing for modest R&D allowances).
    In other words, it is honest and not avoiding company tax by deliberate avoidance measures.
    Contrast this with almost all overseas-based multinationals (i.e. all the USA ones, many UK ones etc), which do not pay anywhere near 30% company tax in their home jurisdiction or in any of the jurisdictions in which they operate. So they and their subsidiaries compete in Australia with Australian companies gaining a cost advantage by not paying tax; and no or trivial tax is paid on Australian profits to the Australian government.
    Ever wondered why Australian companies are finding it harder, and more are failing?
    Ever wondered why individual Australians are having to pay more of the tax burden?
    Have you ever wondered if our nation should take this seriously?

    Against this backdrop, an Australian company needs to be extraordinary to flourish and grow. Cochlear has been one such company.
    Last edited by curiouswon: 17/08/17
 
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