Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

Companies warned over inconsistencies between BEPS filing and public data

Australian companies facing their second year of reporting under new anti-tax avoidance laws are being warned to avoid inconsistencies with publicly available business information, reports the Australian Financial Review.  Obligations under the ATO’s base erosion and profit shifting action plan rules (BEPS) include local and country-by-country filing, with fines of up to $525,000 for anyone providing incorrect or […]

Companies warned over inconsistencies between BEPS filing and public data

Companies warned over inconsistencies between BEPS filing and public data

Australian companies facing their second year of reporting under new anti-tax avoidance laws are being warned to avoid inconsistencies with publicly available business information, reports the Australian Financial Review.  Obligations under the ATO’s base erosion and profit shifting action plan rules (BEPS) include local and country-by-country filing, with fines of up to $525,000 for anyone providing incorrect or […] … Read More

Local file, local flavour: Lessons from BEPs one year on

Local file, local flavour: Lessons from BEPs one year on

BEPs first anniversary is approaching. What can we learn from the unique challenges faced by multinationals operating in Australia? And what will Year 2 bring? Joanne Ting, CbC and Transfer Pricing technology specialist gives us a preview ahead of the upcoming webinar with BDO and The Tax Institute. … Read More

Much hot air? Too late? What to make of the Senate inquiry into corporate tax avoidance

Much hot air? Too late? What to make of the Senate inquiry into corporate tax avoidance

The Senate Economics References Committee has handed down its final report into corporate tax avoidance, more than three and a half years after launching its inquiry. We consider the relevance of the final report for today’s tax landscape and look where the tax reform journey will take us next. … Read More

Navigating the International Tax World, Amidst Profound Change

Navigating the International Tax World, Amidst Profound Change

Bob Dylan famously sung in 1964 ‘the times they are changing’, albeit he wasn’t singing about the international tax world, however, he was right, times were and are always changing. Change is a constant in the world and in the international tax realm, change is inevitable and unavoidable. … Read More

Catch me if you can – Transfer Pricing in the quantum age of speed and transparency

Catch me if you can – Transfer Pricing in the quantum age of speed and transparency

Data transfers between tax authorities in the supercomputer age will be made at lightning speed, allowing them to size-up in mere moments the veracity of a company’s declaration of cross-border structures and revenue models. While we might not be in the quantum age just yet, companies have started leveraging technology to produce accurate CbC reports and transfer pricing documentation. … Read More