This video is a filmed session from Vic 3rd Annual Tax Forum, PowerPoint slides are incorporated with the presentation.
The recent proliferation of free trade agreements with China, Japan and South Korea has the potential to provide significant benefits to all sectors of the Australian economy. To take full advantage of the opportunities available under these agreements, and to mitigate potential risks, tax advisers and clients alike should already be focusing on the practical steps, including but not limited to, understanding:
- The criteria that must be satisfied in order for goods exported to/from partner countries to qualify under the relevant agreement
- the corporate tax, GST/VAT and transfer pricing considerations arising from the increased market access afforded by free trade agreements
- the customs and broader tax implication of different international supply chain structures utilised in leveraging these agreements
- the broader opportunities available to Australian businesses through increased trade facilitation in goods and services and a reduction in non-tariff barriers.