Tax Havens

31 July 2013

Professor Graeme Cooper comments on the use of offshore tax havens by Australian corporations.

According to ABC TV's 7:30, the majority of the top 100 companies on the Australian Stock Exchange use so-called "secrecy jurisdictions" abroad, leading to calls for a new crackdown.

In an interview with 7:30, Professor Cooper says he doubts if there's a lot of money held offshore by big Australian corporates.

"I don't want to be giving people the impression that Australian corporates don't use tax havens," he says.

"But they don't leave money sitting in there.

"The money goes in, the money goes out.

"So if you ask: why do multinationals use tax havens?

"The answer is typically for convenience, not for tax."

Tax haven use prompts call for action - ABC TV's 7:30

Contact: Greg Sherington

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