McDonald's lowers its tax bill as profit soars

By Nassim Khadem
Updated June 28 2016 - 10:08pm, first published June 27 2016 - 3:54pm
Demonstrators dressed as Ronald McDonald protest for better wages for McDonald's employees in Sao Paulo, Brazil.  Photo: Andre Penner
Demonstrators dressed as Ronald McDonald protest for better wages for McDonald's employees in Sao Paulo, Brazil. Photo: Andre Penner
Independent federal senator Nick Xenophon says the government needs to seriously consider a turnover tax as a backstop to prevent revenue leaking overseas. Photo: Paul Jeffers
Independent federal senator Nick Xenophon says the government needs to seriously consider a turnover tax as a backstop to prevent revenue leaking overseas. Photo: Paul Jeffers
Shadow assistant treasurer Andrew Leigh says: "How much longer will the government give large companies a free ride on debt deduction loopholes?" Photo: Louise Kennerley
Shadow assistant treasurer Andrew Leigh says: "How much longer will the government give large companies a free ride on debt deduction loopholes?" Photo: Louise Kennerley
Prime Minister Malcolm Turnbull and Treasurer Scott Morrison say they have introduced laws to make multinationals pay more tax. Photo: Andrew Meares
Prime Minister Malcolm Turnbull and Treasurer Scott Morrison say they have introduced laws to make multinationals pay more tax. Photo: Andrew Meares

Fast food giant McDonald's Australia cut its tax bill by more than half in 2015 by routing payments via the low-tax nation of Singapore.