The Australian Treasury Published Submission From DPT Consultation

The Australian Treasury Published Submission From DPT Consultation
Specialties
Country expertise
Industries
The Australian Treasury Published Submission From DPT Consultation
March 5th, 2017
The Australian Treasury published 21 submissions received on the exposure draft legislation for a Diverted Profits Tax (DPT), which was launched by the Australian Government on November 29.
Background: DPT

The Australian Treasury published 21 submissions received on the exposure draft legislation for a Diverted Profits Tax (DPT), which was launched by the Australian Government on November 29.

Background: DPT

The DPT aims to ensure that the tax paid by significant global entities properly reflects the economic substance of their activities in Australia.  It targets contrived arrangements resulting in tax evasion and allows collection of information for the timely resolution of tax disputes. The DPT will impose a penalty rate of tax and require that tax to be paid irrespective of whether the assessment is the subject of an unresolved dispute.

Submissions by Multinationals

Treasury received 21 submissions in response to this consultation. Two submissions were not published by the Australian Treasury, as they were confidential. The ATO expects that multinationals will engage early on with the ATO and would continue to be monitored by the ATO in the event of a restructure undertaken to be compliant under the DPT.

Proposal Diverted Profits Tax Bill 2017

On February 9, the Australian Government introduced a Proposal Diverted Profits Tax Bill 2017. This measure will apply in relation to tax benefits for the income year that starts on or after July 1, 2017.

Sources: Australian Government- submissions, TPA - Australia DPT 2017, Australian Government - DPT Exposure Draft
 

 

The Australian Treasury Published Submission From DPT Consultation
; posted on
March 5th, 2017
The Australian Treasury published 21 submissions received on the exposure draft legislation for a Diverted Profits Tax (DPT), which was launched by the Australian Government on November 29.
Background: DPT
TPA Global Events 2017

We Provide Solutions - Let's Talk Business!

TAX TECHNOLOGY EVENT 2017
Amsterdam, the Netherlands
7 September 2017
 
VCA - FUNCTIONAL ANALYSIS POST BEPS
Amsterdam, the Netherlands
25-26 September 2017

Copyright © 2017
Transfer Pricing Associates BV.
All rights reserved.

H.J.E. Wenckebachweg 210
1096 AS Amsterdam
T: +31 20 462 3530
E: info@tpa-global.com
I: www.tpa-global.com