Treasury Laws Amendment Bill 2024: Multinational Tax Transparency - Country-by-Country Reporting
Treasury Laws Amendment Bill 2024: Multinational Tax Transparency - Country-by-Country Reporting
In February 2024, Treasury released Treasury Laws Amendment Bill 2024: Multinational Tax Transparency – Country by Country Reporting (Draft Bill) and the following associated documents:
- Treasury Laws Amendment Bill 2024: Multinational Tax Transparency – Country by Country Reporting – Exposure Draft Explanatory Materials
- Taxation Administration (Country by Country Reporting Jurisdictions) Determination 2024 (the Determination)
- Explanatory Statement – Taxation Administration (Country by Country Reporting Jurisdictions) Determination 2024
These measures are intended to amend the Australian system to more closely align with the European Union’s public country by country regime.
In response, BDO has prepared a submission providing comments on three matters, namely the listing of jurisdictions, CbC Parent definition and $1 billion threshold, and the scope of disclosures.
Contact any of our team to learn more about this submission or enquire about our international tax services.