The Albanese Labor Government is delivering world‑leading tax transparency reform, with the first 382 public country‑by‑country tax reports released today.
For the first time, Australians can see where hundreds of major multinationals operating in Australia make their profits, employ their workers and pay their taxes around the world.
Under Australia’s new public country‑by‑country reporting regime, large multinational groups with annual global income of at least $1 billion and a sufficient Australian presence must publicly disclose detailed information about their international operations.
The Australian Taxation Office (ATO) has today published reports covering 201 Australian‑headquartered businesses and 181 foreign‑headquartered businesses.
The reports reveal revenues, profits, income taxes, employee numbers and tangible assets across Australia and 38 specified jurisdictions, with information about other jurisdictions reported either separately or in aggregate.
This allows Australians to examine whether the countries where multinational profits are reported match the countries where their workers and physical assets are located.
For example, where a company reports substantial profits in a low‑tax jurisdiction but has relatively few employees or physical assets there, the public can now scrutinise that discrepancy.
Such patterns do not necessarily indicate unlawful tax avoidance, but greater transparency allows the public to ask better questions.
Australia’s regime operates in tandem with international reforms, including those introduced by the European Union, and establishes one of the world’s most comprehensive systems of public multinational tax disclosure.
The new reports complement existing corporate tax transparency disclosures, which show the income and tax paid by large businesses in Australia. Country‑by‑country reporting provides a much wider view of their global operations.
The first release primarily covers businesses with a 30 June financial year end.
Further reports, including from many foreign‑headquartered multinationals, are expected to be published in May 2027.
This reform is part of the Albanese Government’s broader agenda to strengthen multinational tax integrity, alongside the 15 per cent global minimum tax and tighter rules against excessive debt deductions.
Quotes attributable to Assistant Treasurer and Minister for Financial Services, Dr Daniel Mulino MP
“A strong tax system depends on transparency, accountability and confidence that the rules are being applied fairly.
“This reform gives regulators, investors and the public greater insight into the global operations of major multinationals, complementing our broader efforts to strengthen tax integrity and project Australia’s revenue base.”
Quotes attributable to Assistant Minister for Productivity, Competition, Charities and Treasury, Dr Andrew Leigh MP
“Labor has been fighting for public country‑by‑country reporting since we were in opposition. Today, that commitment becomes a reality.
“Australians expect large multinationals to pay their fair share of tax. Businesses doing the right thing deserve a level playing field, and transparency helps expose arrangements that might give others an unfair advantage.
“Multinational profits can travel halfway around the world without a suitcase. Now Australians can see where those profits are booked, and how much tax is paid there.”
