Tax transparency in Australia: cutting through the BEPS noise
Source: Taxation In Australia Journal Article
Published Date: 1 Aug 2015
Given the importance of the OECD's current Action plan on base erosion and profit shifting (BEPS), it is timely for Australian businesses and their advisers to consider what their own action plan should be. Australia has taken a leading role in legislating against base erosion, profit shifting and multinational tax avoidance. Common themes in reacting to such measures are that systems, processes and policies need to be reviewed in light of the changing tax transparency world, and reputational risk must be part of any tax risk management discussion.
International related party dealings involving Australia are likely to be the subject of ATO and public scrutiny, and senior management and boards of Australian operations must prepare for this increased scrutiny. This article considers various BEPS-related issues, including new global tax disclosure rules, master and local files, and country-by-country reporting. The article concludes with a brief discussion on the management of reputational risk.
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Details
- Published By: Jerome Tse CTA, Catherine Krol
- Published On:1 Aug 2015
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
Copyright Statement
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags
Share this page