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Australia
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Australian tax office seeking to fast-track key court disputes with multinationals
The Australian Tax Office (ATO) is working with the Federal Court in an effort to “fast-track” the resolution of strategically important tax cases, Tax Commissioner Chris Jordan said April 21 at a Senate committee hearing on multinational corporation . . .
Asia-Pacific
Asia-Pacific
Asia-Pacific
Asia-Pacific
Australian transfer pricing guidance on marketing, sales and distribution hubs released
Davide Anghileri of the University of Lausanne writes about key guidance released by the Australian taxation office January 16 setting out the ATO’s approach to transfer pricing issues related to marketing, sales and distribution, and other hubs . . .
Asia-Pacific
Singapore, Australia sign agreement to share information to combat tax evasion
Singapore and Australia’s tax offices have signed an agreement to share data in an effort to crack down on tax evasion, the Australian tax authority. . .
Asia-Pacific
Australian bill imposes GST on digital products and other intangibles supplied by nonresidents
Australia’s Treasurer on February 10 introduced into Parliament a bill that would impose the 10 percent goods and services tax (GST) to all supplies by nonresidents to Australian consumers except for supplies of goods and real property. A second measure . . .
Asia-Pacific
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Asia-Pacific
Australia expects large tax recoveries from seven multinational firm audits, Jordan says
The Australian Taxation Office (ATO) expects to conclude tax audits of at least seven major multinational firms by June 30, likely assessing combined tax liabilities in excess . . .
Asia-Pacific
Americas
New Zealand proposes rules to combat multinational tax avoidance through use of hybrid mismatches
The New Zealand government has today released for discussion proposed measures to prevent multinational corporations from avoiding tax through use of hybrid mismatch . . .
Asia-Pacific
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Australia sets enhanced cooperation with tax office as condition for foreign investment
Australian Treasurer Scott Morrison on February 22 announced that he will use his powers to block investment to force large multinationals and other foreign investors pay tax on Australian . . .
Asia-Pacific
Asia-Pacific
Australian Court rejects Chevron’s appeal in transfer pricing dispute
Australia’s Full Federal Court today dismissed Chevron’s appeal in a transfer pricing case involving intercompany loans, handing the Australian Taxation Office (ATO) a key victory. By unanimous judgment, the full bench . . .
Asia-Pacific
Australian tax office warns about schemes to avoid multinational antiavoidance law, ’round robin’ financing
The Australian Taxation Office (ATO) is warning multinationals that it will contest a tax planning maneuver designed to thwart Australia’s new Multinational Anti Avoidance Law (MAAL) as well as ’round robin’ type intragroup financing arrangements that generate . . .
Asia-Pacific
Australia 2017 year-in-review: tax authority takes aim at large multinational business
Zara Ritchie and Natalya Marenina of BDO take a look back at the most significant Australian international tax developments of 2017 — including the new focus on significant global entities, transfer pricing documentation, diverted profits tax, and cross-boarder financing — and consider what 2018 is likely to bring . . .
Asia-Pacific
Chris Jordan reappointed Australian Commissioner of Taxation
Chris Jordan’s term as Australian Commissioner of Taxation (ATO) has been extended through. . .
Asia-Pacific
Australia issues guidelines for simplified transfer pricing record-keeping
The Australian Taxation Office (ATO), on 22 February, released Practical Compliance Guideline PCG 2017/2 (PCG 2017/2), outlining simplified transfer pricing record-keeping options to minimise record-keeping for eligible taxpayers, writes Davide Anghileri . . .
Asia-Pacific
Australian budget includes UK-style diverted profits tax, anti-hybrid rules
The Australian government on May 3 released its 2016–17 budget, announcing several measures to crack down on multinational tax avoidance, including a tough new diverted profits tax (DPT), anti-hybrid and transfer pricing rules patterned after . . .
