About one-third of large companies have failed to pay tax, even though they made a gross profit, but the Tax Office says most have good reasons, according to the latest corporate tax transparency report released today.

Of the 2,109 entities monitored by the ATO in data covering 2016-17, 66 per cent paid tax although the remainder did not as they claimed tax losses and concessions that can go back several years.

via One-third of large Australian companies paid no tax, ATO data show – Politics – ABC News (Australian Broadcasting Corporation)