The effects of the global financial crisis are still being felt in the area of international tax as governments and revenue authorities around the world cooperate to overcome challenges in the system. The Australian Government is at the forefront of this movement, legislating/announcing a series of substantial revenue-raising and integrity measures aimed at cross border transactions.
The government has not limited the changes to tax legislation but has extended its efforts to include the sharing of tax information and co-operation with foreign revenue authorities. This is all geared towards addressing the issue of inappropriate cross border profit allocation or blatant non-disclosure by taxpayers.
Join this webinar to find out more about some of the key international tax changes taking place and to discuss how these affect your SME export business in Australia. In particular, Tony will focus on the following topics:
Base erosion & profit-shifting
- Following the GFC many countries realised that a vast amount of tax revenue was being lost through inappropriate profit shifting by multinationals. As a result the Organisation for Economic Co-operation and Development (‘OECD’) has been focusing its attention in this area. In February last year the OECD released a report entitled “Addressing Base Erosion and Profit Shifting” which signalled the start of probably the greatest change in international tax rules. Australia has been one of the countries leading this change and it therefore seems likely that the changes recommended by the OECD will be implemented here.
- The Australian government has been particularly focused on its transfer pricing legislation over the past two years and last year introduced a very significant tranche of transfer pricing reforms that will apply to most taxpayers for the financial year ending 30 June 2014.
ATO compliance activity
- The theme of the BEPS project can be seen in the ATO compliance program for 2013/14. The ATO have rolled out a number of initiatives as part of its auditing processes with profit shifting through transfer pricing and thin capitalisation being a key area of focus for the ATO.
This is an excellent opportunity to hear from an international tax expert and ensure your knowledge is up to date so you make the right decisions for your business.
Date: Tuesday, February 18, 2014
Time: 12:30 PM - 1:30 PM AEDT
Speaker: Tony Nunes B.COM, LLB, LLM, M.TAX, CTA, Senior Client Director - Tax Consulting, Kelly + Partners
Tony Nunes has more than 16 years experience in tax. Tony began his career in tax consulting with Deloitte & Touche.
Tony provides practical, leading-edge tax advice across a broad spectrum of issues and transactions to accomplished individuals and companies involved in a range of endeavours.
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