SingTel refutes claim of A$713m tax avoidance

SINGAPORE Telecommunications (SingTel) has hit back at a report claiming that the telco had dodged more than A$700 million in taxes due to the Australian government.

The Singapore telecommunications giant says the report wrongly applied the Australian corporate tax rate of 30 per cent to its entire group profits, not all of which are liable for Australian tax.

Others have since come out to denounce the report, which has garnered much attention and was widely reported Down Under.