The Business Council of Australia welcomes the opportunity to provide a submission to The Digital Economy and Australia’s Corporate Tax System discussion paper. This discussion paper is a timely opportunity for a considered debate on the issue of the digital economy and taxation arrangements.
The Business Council strongly believes that all business in Australia must meet their tax obligations and do so in a transparent way. Where arrangements do not keep pace with community norms, they should be reviewed.
Australia’s integrity measures, institutions and enforcement all contribute towards and complement a high level of compliance with our tax system. As the discussion paper notes, “Australia continues to have some of the most robust tax integrity rules in the world.” At the same time, the tax system must ensure that the Australian economy (including the digital economy) which is heavily reliant on trade and foreign investment, remains strong and continues to grow.