Insights

The Federal Parliament has passed legislation to implement the Diverted Profits Tax and to introduce a new penalty regime for Significant Global Entities (SGEs). These measures increase the tax and transfer pricing compliance risk for multinational companies (MNEs) in Australia who are SGEs and...

It’s finally here – on 9 February 2017, the Federal Treasurer introduced into Parliament the legislation for the Diverted Profits Tax (DPT).

The recently released draft legislation to implement the proposed Diverted Profits Tax (DPT) has proposed significant changes to the Australian transfer pricing landscape – in particular the proposed implementation of a ‘pay now, argue later’ approach to the proposed punitive 40 per cent tax rate.

Businesses operating in industries such as mining, oil and gas e-commerce, manufacturing, and pharmaceuticals, are constantly evolving their supply chain to become more efficient and meet the fast changing needs of their customers. 

During 2014, the ATO released simplified transfer pricing record keeping options (simplified rules) so that eligible taxpayers could minimise their compliance burden in relation to transfer pricing.

The Australian Federal Parliament has passed the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015 which gives effect to Australian Country-by- Country (CbC) reporting requirements (i.e. Action 13 of the BEPS project).

The revised APA policies and procedures...