• Service: Tax, Global Indirect Tax, International Tax
  • Type: Regulatory update
  • Date: 12/20/2013

Australia - “Going concern” and GST; broader effects of BEPS  

December 20:  The KPMG member firm in Australia prepared reports on the following developments (read the 2013 reports by clicking on the hyperlinks provided below):
  • What if the “going concern” goes? - The Assistant Treasurer recently said the government will replace the “going concern” exemption available from goods and services tax (GST) with a reverse-charge arrangement. The “going concern” exemption currently eliminates GST and reduces the amount of stamp duty a buyer must pay (with an incidental timing benefit on cash flow).

    Read a December 2013 report.

  • Don’t forget the 10% - Discussion to date on the current Base Erosion and Profit Shifting (BEPS) activity and the Australian Taxation Office (ATO) international structuring and profit shifting (ISAPS) field review program has largely focused on income tax and transfer pricing. Taxpayers, however, need to consider the broader implications, including goods and services tax (GST).

    Read a December 2013 report.

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