OrbitaxAllocation of funding costs to bank branches
|Approved Changes| Australia
The Australian Taxation Office released three Interpretative Decisions (ID) that deal with an allocation of funding costs to Australian branches of foreign banks.
The ATO ID 2012/90 considers a foreign bank with a branch in Australia. The branch is funded locally in AUD (presumably, trying to match the maturity of the branch's assets); however, the bank's global borrowings ar…
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