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Corporate Tax Transparency report shows increase in tax paid
The Australian Taxation Office (ATO) continues to lead the world in providing insights into the operation of the corporate tax system with the publication of the sixth annual report on corporate tax transparency. The report covers the tax affairs of the largest companies operating in Australia.
Deputy Commissioner Rebecca Saint said the report included tax information from 2,311 corporate entities with a combined total income tax paid of $56.1 billion in 2018-19.
“Over 60% of all corporate income tax in 2018-19 was paid by the companies included in this report,” Ms Saint said.