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OECD tells Australia to raise GST rate to fund corporate tax cut

  • GST
  • 28 February 2013 | Richard Asquith

OECD tells Australia to raise GST rate to fund corporate tax cut

The Organisation for Economic Co-operation and Development has recommended that Australia raise its Goods & Sales Tax rate above the current 10% rate. Such a rise would fund a reduction in the relatively high 30% corporation tax rate.

In 2012, an attempt to cut the corporation tax rate by raising mineral extraction taxes was blocked by the Labor Party.

The current Australian GST rate was set at the introduction of the consumption tax in 2000. New Zealand raised its GST rate from 12.5% to 15% in October 2010. The average EU VAT rate is now over 21%.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.