Friday, 3 June 2016

Australia's Budget includes new DPT and BEPS rules

Australia’s federal budget 2016-17, announced on 3 May 2016, contains significant changes that would affect multinationals with Australian subsidiaries, including the introduction of a diverted profits tax and anti-hybrid measures and the implementation of the OECD transfer pricing recommendations under the BEPS initiative. The combination of the BEPS program, the Australian government’s inquiry into corporate tax avoidance, a public tax reform debate and intense media interest has resulted in a changed expectation of multinationals in relation to transparency and tax planning, and an increased expectation for regulators to take a harder line in dealing with tax avoidance.

Source & more info: Deloitte