Australian Treasurer Josh Frydenberg has announced that the government is amending the Offshore Banking Unit regime in order to address harmful tax practice issues.
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Amending Australia's Offshore Banking Unit Regime
The Morrison Government will take action to avoid Australia being designated a harmful tax regime by the OECD and the European Union by introducing legislation into the Parliament to reform Australia's Offshore Banking Unit (OBU).
The OBU, established in 1992, provides a m…