Tax: a dirty word for Election 2022, page-42

If you want to believe that a Multinational is here to cop a loss year after year, then
obviously you haven't worked in management high enough up the tree to have
access to the 'unengineered" balance sheets.

From my many years of experience I can tell you that a Multinational's CEO/MD
who realised one year of real loss in Aus. would have to account for that to his/her overseas
superiors and if he/she did not have a credible business plan for the following year
to at least erase the red ink , then they were given the golden handshake.

In a globalised world ,Multinationals here employ one of the Big 4 Multinational
Accountancy Firms to financially "engineer" balance sheets so that:
(a) products and services are generated in the lowest input cost jurisdiction
(b) that products and services are sold in the highest value jurisdiction
(c) that profit is realised in the lowest tax jurisdiction ; preferably a tax haven or a conduit to a tax haven.

In summary: maximise profit & minimise tax.

Why do you think that Singapore, Republic of Ireland , Holland, Switzerland etc have so many
of the Multinationals marketing hubs?

https://www.abc.net.au/news/2020-09-29/multinationals-tax-avoidance-ato-tax-office-disputes/12694162

The ATO & The Government are both well aware of these Marketing Hubs but
the Libs as of yet have not had the guts to legislate appropriately.

At least the Greens has a policy to scotch the Multinationals' tax loopholes

Some ATO officials have in the past enjoyed perks from these Big 4 Accountancy Firms

https://www.copyright link/politics/federal/ey-pwc-fly-dine-and-accommodate-ato-officials-at-conferences-20191028-p53520