In the wake of finalized tax guidance, Australia is expected to see a rise in the number of foreign companies considered tax residents.
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) became effective January 1, 2019 in Australia, France, Israel, Japan, Lithuania and the Slovak Republic.
The Australian government has published a discussion paper on whether to introduce a new interim digital tax. The digital tax is expected to apply to service providers such as news and information providers (e.g., search engines and digital advertising), digital streaming and sharing services, accommodation platforms and other digital platforms.
The Australian government confirmed that in order to be eligible for a reduced corporate income tax rate, a company must have less than 80 percent passive income.
The Australian Tax Office issued a tax ruling confirming that an entity with central management and control in Australia may be considered an Australian tax resident.
The Australian Taxation Office has proposed a number of clarifications to thin capitalization rules.
On May 19, 2017, a law was passed on the gradual tax rate reduction for small businesses for the period from July 1, 2016, to July 1, 2022.
The Australian Taxation Office issued a combined $2.9 billion in tax bills this month to seven multinationals, including Apple, Google and Microsoft. The ATO’s actions come three months before the effective date of Australia’s widely heralded diverted profits tax, known as the Google tax. Here’s what you need to know about this important legislation.
The Australian government proposed an increase in administrative tax penalties.
The bill implementing the diverted profits tax (DPT) has been passed by the Australian Parliament.
In January 2017, the Australian Taxation Office (ATO) published new guidance on transfer pricing. The publication is part of a trend of tax authorities in all jurisdictions cracking down on profit shifting. This post provides some important steps you can take to ensure your organization stays compliant with evolving corporate tax laws.
The Australian Government issued its 2016 Federal Budget yesterday, and there are significant implications for multinationals operating there. This post is a summary of important points covered in the announcement, with an emphasis on foreign businesses.