Labor Government Introduces Bill for 15 Percent Global Minimum Tax

The federal government is pitching the bill as an attempt to deal with cost of living issues.
Labor Government Introduces Bill for 15 Percent Global Minimum Tax
People walk past a currency exchange shop in Istanbul, Turkey on June 23, 2023. Chris McGrath/Getty Images)
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The Australian Labor government has introduced a bill to lock in a 15 percent global and domestic minimum tax for all multinational companies.

Companies with a revenue of $1.2 billion (US$805.67 billion or 750 million euros) will come under the new standard, effective from Jan. 1, 2024.

Daniel Y. Teng
Daniel Y. Teng
Writer
Daniel Y. Teng is based in Brisbane, Australia. He focuses on national affairs, including federal politics and Australia-China relations. Got a tip? Contact him at [email protected].
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