Assistant Treasurer Andrew Leigh has confirmed the Albanese Government intends to stop multinational firms from claiming tax deductions on ‘intangibles,’ such as IP royalties and software licences, in a speech to an OECD conference.

The speech is a statement of policy intent. The government has not yet released any details.

Leigh states that Labor will “stop multinationals from claiming tax deductions where they are exploiting payments for royalties and intangibles”.