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’s reliance on company tax as a share of all taxes is the third highest across advanced countries. Large businesses paid over 60 per cent of the $64 billion in company tax collected in 2015-16.
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.
The Business Council Secretariat contact for the Code is Pero Stojanovski, Senior Economist.
BUSINESS COUNCIL SIGNATORIES