COMTAX AB
  • Home
  • Products
  • NEWS
  • Partners
  • Contact
  • Join us
  • FAQs
  • Login

International Tax News & Updates

Australia: ATO Explains Exemptions from Country-by-Country Reporting Obligations

9/6/2016

 
On 27 September 2016, the Australian Taxation Office (ATO) published a guidance on granting exemptions from the country-by-country (CbC) reporting obligations. The guidance explains how a taxpayer that is considered a significant global entity (SGE) and that is subject to the CbC reporting obligations in Australia may request an exemption from filing one or several required reports from the ATO. The exemption, if granted, will generally be valid for one to three reporting periods. 

The Australia CbC reporting rules require SGE taxpayers or members of SGE groups to file the local file, the master file and the CbC report with the ATO. However, if the ATO receives the CbC report within a reasonable time from the global entity's tax authority, the local taxpayer will not have an obligation to file the CbC report.

The guidance also states that in considering an exemption application, no single factor will be determinative, but the ATO will take into account, inter alia:
  • whether the taxpayer is currently subject to a tax audit;
  • whether the taxpayer has any international related-party dealings and the nature of those dealings; and
  • whether the taxpayer transacts with entities resident in high-risk jurisdictions.

Comments are closed.
    Subscribe now!

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    February 2014

COMTAX AB

H3 Business Center
Biogränd 7
SE-572 30 Oskarshamn
Sweden

CONTACT

Tel.: +46 46 590 07 70
E-mail: support(@)comtaxit.com

INFORMATION

Privacy Statement
Partner Program
Picture
© COPYRIGHT 1985 - 2023 COMTAX AB.  ALL RIGHTS RESERVED.
  • Home
  • Products
  • NEWS
  • Partners
  • Contact
  • Join us
  • FAQs
  • Login