The ATO has recently released its corporate tax transparency report for the financial year 2022-23.

The report focuses on the tax payable for that financial year for the following cohorts of corporate tax payers:

• Australian private entities with income above $100,000 million;
• Australian public entities; and
• Foreign owned entities.

These cohorts comprise 3,985 entities and contributed approximately 71% of total corporate income tax payable in 2022-23.

Tax paid in 2022-23 was the highest since the corporate tax transparency regime was introduced and increased by $14 billion (16.7%) to $97.9 billion on the prior year.