The new Australian anti-avoidance rules in regard to multinational corporations do not apply to which one of the following options? A) Significant global entities B) An entity or consolidated group of entities with an annual global income of less than $1 billion C) An entity or consolidated group of entities with an annual global income of $1 billion or more D) A foreign entity that has an Australian permanent establishment

Question

Quizplus · Accepted Answer

The new Australian anti-avoidance rules target multinational corporations to ensure they pay their fair share of tax. These rules specifically apply to significant global entities, which are defined as entities or consolidated groups of entities with an annual global income of $1 billion or more, as well as foreign entities that have an Australian permanent establishment. Therefore, entities or consolidated groups of entities with an annual global income of less than $1 billion do not fall under these rules.

The New Australian Anti-Avoidance Rules in Regard to Multinational Corporations