Tax Transparency Code
The Tax Transparency Code is a voluntary initiative through which Australia's largest businesses are taking the lead in becoming more transparent and encouraging a more informed public debate about how company tax is paid.
Australia collects more company tax as a share of GDP than any advanced country other than Norway. Large businesses paid almost two-thirds of the $68 billion in company tax collected in 2014-15.
The Code was developed by the Board of Taxation to provide a mechanism for larger businesses to demonstrate leadership, publicly disclose their tax affairs, and help educate the public about large business compliance with Australia’s tax laws.
The Code is one of the most comprehensive tax transparency measures in the world. It is a key mechanism to build community confidence in Australia's tax-compliant businesses, and encourages all companies to be more transparent with the public about their tax affairs.
Since the Code's inception, the Business Council has strongly urged all companies to sign up to the Code, whether they are Business Council members or not.
BUSINESS COUNCIL SIGNATORIES