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The current tax system is broken beyond repair.
After two years of the OECD trying to patch up the system, even its biggest members the EU and US have given up and are looking at alternatives.
If we want to stop companies like Apple, Adani, Google, Origin, Santos, Glencore, Shell, Qantas et all taking a bite out of our public services, we need a much better way of taxing multinationals.
Unitary taxation would save governments billions in lost tax revenues – as well as making multinationals and tax authorities accountable to citizens in a completely new way.
The only people who benefit from our outdated, bloated, tax system are the multinationals who abuse it, and their advisors who make billions dreaming up tax avoidance schemes.
A new simpler way of taxing multinationals is needed to make sure we all know who is paying their fair share.