Josh Frydenberg (Kooyong, Liberal Party, Assistant Treasurer) Share this | Hansard source

and acknowledge the economic expertise he brings to this place. Multinationals are not new. Companies like IBM, Shell and Citibank have been trading goods and services across state boundaries for nearly a century. With the increasing digitisation of our economy, it is becoming more and more difficult for tax authorities to appropriately tax multinationals. So that is why the Abbott government are moving on a number of fronts. First, legislatively: we have tightened the thin capitalisation rules to prevent excessive debt deductions. Second, resourcing: we have given more resources where it is needed most—

Mr Perrett interjecting—

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