Asia-Pacific
Australia
Asia-Pacific
Africa
Asia-Pacific
Asia-Pacific
Asia-Pacific
Asia-Pacific
Australia consults on establishment of beneficial ownership registry
The Australian government is moving forward with efforts to establish a public register of the beneficial owners of companies to put an end . . .
Asia-Pacific
Asia-Pacific
Asia-Pacific
Australia proposes anti-hybrid law to combat multinational tax avoidance, announces plans for “targeted integrity rule”
The Australian government on November 24 released a draft law and explanatory materials implementing hybrid mismatch rules to combat multinational firm tax avoidance. The Australian government is also developing a “targeted integrity rule” to prevent circumvention of the hybrid mismatch rules as well as branch mismatch rules to further clamp down on MNE tax . . .
Asia-Pacific
Australian diverted profits tax legislation introduced
Julian Feiner of Dentons, London, discusses proposed Australian legislation, introduced into Parliament February 9, that would implement a diverted profits tax, comparing the draft to the UK DPT . . .
Asia-Pacific
Asia-Pacific
Asia-Pacific
Australian guidance defines “Australian consumer” for cross-border VAT rules
The Australian Taxation Office, on December 22, published a draft goods and services ruling (GSTR 2016/D1) discussing the meaning of “Australian Consumer” for purposes of rules that . . .
Asia-Pacific
Asia-Pacific
Australian guidance clarifies proposed GST law applicable to supplies by nonresidents
The Australian Taxation Office (ATO), on February 15, issued draft guidance elaborating upon proposed goods and services tax (GST) legislation introduced by the government last week. The guidance concerns aspects of new rules which would narrow the current test for determining when the enterprise of a nonresident . . .
Asia-Pacific
Asia-Pacific
Asia-Pacific
Asia-Pacific
Australia publishes tax paid by 1539 large MNEs in 2013-14, finding 579 paid nothing: Matthew Doran / ABC News (Australian Broadcasting Corporation)→
Source: ABC News (Australian Broadcasting Corporation), See also: Reuters, Wall Street Journal. For the report, see ATO. For explanatory material, see, ATO.
Asia-Pacific
Australia issues guidance on country-by-country reporting
The Australian government on December 17 issued detailed guidance on newly enacted Subdivision 815-E of the Income Tax Assessment Act 1997 concerning transfer pricing documentation . . .
Asia-Pacific
Revised treaty between Australia and Switzerland enters into force
A revised tax treaty and protocol between Australia and Switzerland, signed July 30, 2013, entered into force on October 14 , Australia’s tax authority has announced. Australian legislation enforcing the revised tax treaty received royal assent on September 24. See, release, Australia-Switzerland Tax Treaty (142 KB).
Americas
US signs first competent authority arrangements to implement FATCA IGAs with Australia and UK
The US IRS announced November 24 that it has signed competent authority arrangements (CCAs) with Australia and the UK to establish . . .
Asia-Pacific
Australian Senate report advocates heightened public disclosure of multinationals’ tax affairs
An interim report prepared by the Australian Senate Economic References Committee, released August 18, calls for laws mandating greater public disclosure of tax information of large . . .
Asia-Pacific
Australian draft laws introduce country-by-country reporting, double penalties for profit shifting and tax avoidance
Australia’s Treasury on July 6 released draft laws introducing country-by-country reporting documentation standards and doubling administrative penalties for multinational entities that have entered into tax avoidance or profit shifting schemes. Both measures were first announced . . .
Americas
Remuneration of Canadian resident employee working in Australia subject to Australian tax because of employer’s deemed PE, says ATO
The Australian Taxation Office has ruled, in a May 30 interpretative decision. . .
Asia-Pacific
Australia’s tax treaty definition of royalties is unclear, says professor: SSRN→
See: Royalties in Australia: Task Technology and Seven Network Cases by Richard J. Vann: SSRN.
Americas
Asia-Pacific
Americas
India, Australia, Canada, Costa Rica, Indonesia, and New Zealand sign OECD multilateral competent authority agreement
India, Australia, Canada, on June 3 signed the OECD common reporting standard multilateral competent authority agreement, paving the way for automatic exchange of information by the countries’ tax administration, according to press releases issued by the countries’s governments. Costa Rica, Indonesia, and New Zealand . . .
Asia-Pacific
Australian Tax Office expects to battle MNEs in court over tax avoidance, official says
The Australian Taxation Office (ATO) has been scrutinizing the tax affairs of more than 200 multinational corporations for the past 18 months, and expects to litigate tax disputes arising from this activity beginning the second half of 2015, Andrew Mills . . .
Asia-Pacific
Australia scrutinizing offshore procurement hub structures for tax avoidance
The Australian Taxation Office (ATO) on December 10 said it is reviewing arrangements where an Australian resident multinational establishes a controlled foreign . . .
Asia-Pacific
Asia-Pacific
Australian Senate committee to grill Uber, Airbnb on tax avoidance — Financial Review
“The Senate standing committee on economics will this week write to Uber and room-sharing service Airbnb inviting them to make a written submission to the inquiry into the use of offshore tax havens by multinational companies. The next step will be to invite company representatives to appear at hearings as “guests” of the inquiry,” writes Fleur Anderson of Financial Review.
Asia-Pacific
Asia-Pacific
Australia to publicly report company tax information during the week of December 14
The Australian Taxation Office announced December 7 that it will fulfill its obligation to publicly report tax information of corporate entities pursuant to new tax transparency . . .
Asia-Pacific
Switzerland and Australia agree to automatic exchange of information in tax matters
Switzerland and Australia have signed a joint declaration expressing their intent to begin automatically exchanging information on tax matters using internationally agreed standards beginning in 2018, the Swiss government announced March 3. Collection of the data will begin in 2017. The agreement, signed in Canberra, is the first declaration on automatic exchange of information. . .
Asia-Pacific
Australia and UK push for coordinated action to stop MNEs from diverting profits
Australia and the UK have asked G20 nations to join them in an effort to stop the diversion of profits by multinational enterprises, in an initiative designed to go “further and faster” than the OECD’s base erosion and profit shifting (BEPS) plan, Australia’s . . .
Asia-Pacific
