BDO submission – Local File/Master File (LCMSF) Schema Version 4.0
BDO submission – Local File/Master File (LCMSF) Schema Version 4.0
The Australian Taxation Office (ATO) released the Local File/Master File (LCMSF) Schema Version 4.0 short form local file instructions (Draft Instructions) with the opportunity for industry to provide feedback.
In response, BDO has prepared a submission outlining key observations and practical examples of challenges stemming from these adjustments. Notably, we find the proposed amendments in the Draft Instructions potentially burdensome, potentially escalating compliance costs for Significant Global Enterprises in Australia, irrespective of their local operational scale.
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