Tag: Australia
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Tax Administration Act 1953 (Subdivision 815-E)
Subdivision 815-E of the Income Tax Assessment Act 1997 in Australia relates to reporting obligations for significant global entities regarding transfer pricing documentation and country-by-country reporting. Key aspects of Subdivision 815-E include: Subdivision 815-E works in conjunction with other transfer pricing rules in Australian tax law, such as Subdivisions 815-B and 815-C, which deal with…
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Country-by-Country Reporting (CbCR) Regulation in Australia
Australia has adopted Country-by-Country Reporting (CbCR) regulations as part of its commitment to the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13 framework. The Australian Taxation Office (ATO) is responsible for administering CbCR compliance, ensuring that multinational enterprises (MNEs) operating in Australia adhere to international tax transparency requirements. This guide provides CFOs and tax…
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How CbC reporting is presented in Australia
CbC reporting, short for Country-by-Country reporting, is a mechanism used by tax authorities around the world to gather information about the operations and financial activities of multinational enterprises (MNEs). The aim of CbC reporting is to enhance transparency, provide tax authorities with information to assess transfer pricing risks and improve compliance with tax laws. In…
CbC Reporting 