NOTHING TO HIDE OVER TAX, SAYS ALDI

GERMAN supermarket titan Aldi has signed up to the federal government’s voluntary Tax Transparency Code, a public register of taxation details that has struggled to attract foreign multinationals.

Under the move, the retailer will post an annual report on its website, with the first due in September.

“Aldi supports greater tax disclosure in Australia as this reflects our commitment to regulatory compliance and increased transparency on our tax strategy and corporate governance,” Aldi Australia chief Tom Daunt (left) said.

Privately-owned Aldi has long drawn the ire of competitors including Woolworths and Wesfarmers, the latter of which has previously suggested the German interloper may not be meeting its full tax liabilities within Australia.

Aldi’s Australian arm is registered as a limited partnership, meaning it is not required to disclose its financial accounts to the Australian Securities and Investments Commission. Mr Daunt said since becoming profitable in Australia, Aldi had paid an average 31 per cent in pre-tax profits to the ATO.