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Tax expert says companies in tax havens shouldn’t operate in Australia

An ethical tax expert says companies set up in tax havens should be denied the ability to conduct business in Australia.

Many firms exploit loopholes in the tax system to end up paying much less tax than they otherwise would.

The federal budget would be boosted significantly if tax avoidance were reduced.

But expert and author George Rozvany told Tom Elliott politicians don’t always understand the issues.

Mr Rozvany said their advisers work with accounting firms, who have a conflict of interests.

He said tax advisers have no reason to advocate clarity in tax law.

‘You tend to make your money out of uncertainty and complexity,’ he said. 

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