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 and country-by-country reporting.

The measure reflects recommendations set out under the OECD/G20 the base erosion profit shifting plan and applies to income years beginning after January 1, 2016,

See:

• LCG 2015/3