ATO says new tax avoidance laws forced 44 multinationals to return $7bn a year in sales to Australia

New tax avoidance laws have forced 44 multinational companies to return $7bn each year in sales to Australia, the tax office says.

Tax authorities have also confirmed they are considering applying a punitive 40% tax, known as the Google tax, against a “handful” of multinationals for diverting profits offshore.

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