ML-Implode News - Following Britain, Australia now officially has a 'Google tax' on Multinationals

The DPT laws are aimed at multinationals with global revenue of more thanÂ $1 billion and Australian revenue of greater thanÂ $25 million. They will be hit with a 40 per cent tax on all profits - that is 10 per cent higher than the 30 per cent company tax rate.
It aims to ensure that the tax paid by global entities properly reflects the economic substance of their activities in Australia and prevents the diversion of profits offshore through contrived arrangements.
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Australia followed the lead of Britain, which has a similar laws aimed at multinationals which resulted in Google agreeing to a deal with that country's tax authorities to pay Â£130 million ($214 million) in back taxes.
... But as more countries hunt for a greater share of revenue from multinationals, concerns remain that disagreements between global agencies about which nation is entitled to tax profits could spark revenue wars.

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Following Britain, Australia now officially has a 'Google tax' on Multinationals