The news that Apple will pay £234m to settle an Italian tax dispute (Report, 31 December) is a powerful reminder of the scale of the challenge when it comes to making sure companies pay a fair amount of tax.
Apple will pay Italy’s tax office 318 million euros to settle a dispute over allegations it failed to pay taxes for six years, a source with direct knowledge of the matter said on December 30.
Spin Master Corp. announced today that it has reached a settlement agreement with the Canada Revenue Agency ("CRA"), which resolves a previously disclosed transfer pricing matter arising from the CRA's audit of the cost sharing arrangements between Spin Master Ltd. and a foreign affiliate during the 2004 – 2013 taxation years. The amount of the settlement is below the mid-point of the range stated in the Company's Initial Public Offering ("IPO") prospectus.
Of 1539 corporate entities operating in Australia, 38 per cent did not pay tax in 2014, the tax transparency report released on Thursday by the Australian Taxation Office shows.
About half the nation's 1300 public companies that will have their tax details publicly revealed have been under review by the Australian Taxation Office. Tax Commissioner Chris Jordan will on Thursday release the tax details of 1539 corporate entities – 985 of which are foreign-owned, and 554 of which are Australian foreign entities. There are some companies on the list – both tax paying and non-tax paying that we will be looking at more closely