INSUBCONTINENT EXCLUSIVE:
Google has settled with the Australian Taxation Office (ATO) for AU$481.5 million (about $330m) after a prolonged dispute over the tax it
paid in the country over the last decade.After an extensive audit by the ATO on the tax the tech giant owed between 2008 and 2018, it was
found that Google was paying well under the required 30% for multinational corporate entities.For the 2017-2018 financial year, Google paid
just AU$37.2m on its taxable income of AU$188.1m (with a total revenue of AU$1.03 billion)
This works out as 19.8%, with the previous two years clocking in at 18.6% and 13.2% respectively.Before Australia instituted the
Multinational Anti-Avoidance Law (MAAL) in 2015, Google was using its Singapore branch to bill Australian customers, but it since became a
the last two years as a result of the MAAL
