The Transparency Imperative
BUDGET UPDATE: Towards Transparency
The Federal Treasurer, Scott Morrison is sending a clear message to multinational corporations (MNCs) that now is the time to get their global tax affairs in order.
The Australian government is ramping up its tax legislations to be in line with the Organisation for Economic Co-operation and Development (OECD) transfer pricing and Base Erosion and Profit Shifting (BEPS) guidelines. The legislation coupled with heightened enforcement by the Australian Taxation Office (ATO), will be given significant funding to address perceived issues with the way global businesses pay tax in Australia.
What else has changed in 2016 and what should businesses be putting in place to remain compliant?
ONESOURCE BEPS Action Manager
ONESOURCE can assist your organisation navigate a new era of transfer pricing documentation. A proactive response to country-by-country reporting, master file, and local file requirements will enable you to minimise risk and maintain your reputation.
BEPS Global Currents
See beyond the surface of the OECD BEPS Action Plan and better understand its impact on your organisation with BEPS Global Currents.
ONESOURCE Accounts Production
Tax transparency measures have challenged the level and detail of disclosures in financial reporting. These measures are in flux and adapting to them will require a flexible tool to cater to the needs of changing disclosures quickly. ONESOURCE Accounts Production is Thomson Reuters easy to use and flexible financial reporting tool designed to flex to your requirements.