The Australian Taxation Office, on April 17, released four documents providing guidance on the transfer pricing laws.
Draft taxation ruling TR 2014/D4 and a draft practice statement PS LA 3673 address transfer pricing documentation; draft practice statement, PS LA 3672 explains how the ATO will administer transfer pricing scheme penalties; and taxation ruling TR 2014/D3 provides guidance on the effect of actual commercial and financial relations in determining arms-length conditions.
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