The Australian Taxation Office (ATO) has released its first findings report for public and multinational business settlements. The report provides statistics for settlements entered into with public and multinational businesses for the 2022–23 financial year. These statistics supplement the aggregated settlement figures included in the ATO annual report each year.

According to the report, in 2022-23 the ATO secured $3.16 billion of tax revenue from settlements entered into with 251 entities across all client groupa. Public and multinational businesses accounted for nearly a third of all settlements (74) and $3.08 billion (97.24%) of the tax revenue secured.

The report also estimates that, over and above this, an additional $1.5 billion of tax revenue will be collected in future years as a result of these settlements (assuming no material changes in the respective businesses).

Find the report here.

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