Australian businesses face the second-highest corporate tax rate in the developed world, a new report shows, prompting economists to warn that the uncompetitive tax system is stifling investment and making workers poorer.Australian companies paid an effective average tax rate of 28.5 per cent on their income last year, according to the OECD’s annual update of global company tax statistics, released on Thursday.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
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