A new report by the Minerals Council of Australia (MCA) has warned that Australia’s continued lack of tax reforms will make it much harder for the country to compete for investment, as other countries continue to cut tax rates.
The report, by the MCA’s international tax expert Dr Jack Mintz, notes that Australia’s tax competitiveness for investment continues to decline, with the country in 2019 slipping from having the equal fifth-highest headline company income tax rate across the Organisation for Economic Development (OECD) countries, to having the second highest, only behind Portugal.