Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 4/18/2014

Australia - Focus on non-resident transactions, tax risk strategy 

April 18: The KPMG member firm in Australia prepared reports on the following developments (read the April 2014 reports by clicking on the hyperlinks provided below):
  • ATO focus on non-resident transactions - Non-resident taxpayers need to consider the tax implications of proposed transactions with an Australian connection and how to manage the interaction with the Australian Taxation Office (ATO). There are reports of information sharing between the Foreign Investment Review Board and the ATO, resulting in the ATO seeking active engagement with taxpayers during the course of a transaction.

    Read an April 2014 report.


  • Tax risk management strategy - Organisations need a clearly communicated framework outlining their tax risk parameters—one agreed to by both the Board and the organisation’s tax group. In the absence of such a document, it is very easy for a tax function to operate at cross purposes to senior management and the Board.

    Read an April 2014 report.



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