CCH Integrator

After Chevron: review tax risks of cross-border loans

By Ed Carr, Tax Writer, Wolters Kluwer Australia The ATO is focusing on transfer pricing compliance by taxpayers with related-party cross-border financing arrangements. It has followed up a win in the Chevron transfer pricing case (Chevron Australia Holdings Pty Ltd v FC of T 2017 ATC 20-615) by issuing Draft...
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Wolters Kluwer Named Asia Tax Technology Firm of the Year at International Tax Review’s Asia Tax Awards 2017

CCH Integrator Wins for Excellence in Technology Wolters Kluwer Tax & Accounting today announced it has been named as Asia Tax Technology Firm of the Year by International Tax Review. The award was presented at the Asia Tax Awards ceremony in Singapore on Thursday May 4. The Asia Tax Technology...
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Diverted Profits Tax — a new hurdle for multinationals

Contributed by Tamara Cardan, Senior Associate, K&L Gates Legislation was introduced into parliament to enact the Diverted Profits Tax (DPT) — the Diverted Profits Tax Bill 2017 and the Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017 (collectively, the Bill) earlier this year. This follows on from the release...
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2017 FBT Compliance Update

2017 FBT Compliance Update from the ATO

Ahead of the 2017 FBT return lodgment period, ATO Assistant Commissioner Catherine Willis recently outlined several matters that should be kept in mind when preparing 2017 FBT returns. Speaking at a Wolters Kluwer webinar “FBT: 2017 ATO  Compliance Update” on 23 February 2017”, the Assistant Commissioner said that the ATO’s...
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CbC Reports

Important ATO update for SGE’s subject to CbC Reporting

For many companies required to file CbC reports, there are important lodgment deadlines fast approaching for: Full Local File Master File Country-by-Country Report The ATO requires Significant Global Entities (SGEs) subject to Country-by-Country (CbC) Reporting to electronically lodge this information to them. In our consultation with the ATO, they have...
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Tax Information Of Private Groups

Tax transparency – a looming issue for private groups?

Contributed by Narelle McBride, Director, Andrew White, Director, and Stefania Maccarrone, Associate, Greenwoods & Herbert Smith Freehills Greater tax transparency is a looming issue for privately owned and wealthy groups (private groups) with numerous measures already having been introduced and other measures under consideration by the government. In efforts to...
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Diverted Profits Tax Policy

Diverted Profits Tax Policy for Multinationals

Contributed by Tamara Cardan, Senior Associate, K&L Gates LLP, Melbourne Treasury has recently released an exposure draft regarding the proposed diverted profits tax (DPT), a new anti-avoidance rule that will expand the scope of Pt IVA of the Income Tax Assessment Act 1936 (ITAA 1936). The DPT will significantly enhance...
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Local File Reporting

CBC Reporting File Requirements Finalised By ATO

In June 2016, the Australian Taxation Office (ATO) finalised the Local File requirements for Country-by-Country (CbC) Reporting in Australia. The Australian Local File is not an Australian transfer pricing report prepared in accordance with Subdivision 815-B of the Income Tax Assessment Act (ITAA) 1997 and Subdivision 284E of Schedule 1...
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Transfer Pricing Report

Bring vision and velocity to transfer pricing reporting

Multinational organisations are facing unprecedented levels of regulatory scrutiny; savvy enterprises understand that this poses both a challenge and an opportunity. Regulatory compliance can seem at first glance like a burden, however an integrated information management solution that provides an accessible global repository, and the tools to automate and streamline...
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Tax Transparency Code

Voluntary Tax Transparency Code Evaders Examined

With the European Union ruling on unpaid taxes by Apple Inc. recently, and its direction ‘Ireland who now "must therefore recover from Apple" unpaid tax from 2003 to 2014 of "up to €13 billion ($19.3 billion), plus interest "’ there is certainly a trend at a global level to address...
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