IRD auditing 16 multinational firms over $100 mln of tax avoidance

Mon, 11 Dec 2017

By Paul McBeth Dec. 11 (BusinessDesk) - The Inland Revenue Department is auditing 16 multinational firms over their use of transfer pricing to trim their annual collective tax bill by about $100 million. Revenue Minister Stuart Nash last week introduced legislation targeting the shifting of profits from one jurisdiction to another, and the bill should get its first reading in Parliament tomorrow. The legislation was carried over from the previous administration as part of a global effort to clamp down on tax structures known as base eros...

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