Technical Update:

International profit shifting and tax evasion - Australia and other G20 nations agree to implement OECD BEPS initiatives

08 October 2014

On 20 September 2014, Federal Treasurer Joe Hockey announced that Australia and the other G20 Nations have confirmed their commitment to tackle BEPS as they unanimously agreed in 2013. In his announcement, Joe Hockey also committed to Australia implementing the proposed country-by-country reporting standard for transfer pricing in 2017.