Australian Transfer Pricing Alert:

Australia leads the way in enshrining OECD transparency measures into local law

31 August 2015

Zara Ritchie , Global Leader, Transfer Pricing |

In order to enable tax authorities to better identify and tackle transfer pricing risks, one of the main outcomes of the BEPS project (Action 13) has been the introduction of new standards for transfer pricing documentation and Country-by-Country (CbC) reporting. The Australian Treasury has released exposure draft legislation which will insert Subdivision 815-E into the Income Tax Assessment Act 1997 to implement these requirements into Australian law.