OrbitaxLegislation Submitted to Australian Parliament for Diverted Profits Tax, Increased Penalties for SGEs, and Latest OECD Transfer Pricing Guidance
|Proposed Changes|Australia
On 9 February 2017, legislation was introduced in the Australian parliament for several BEPS related measures, including:
- The introduction of a Diverted Profits Tax (DPT) imposed at a rate of 40% on profits that have been artificially diverted from Australia by multinationals with global revenue of AUD 1 billion or more (Significant Global Entities - SGEs), with exemptions for meeting an AUD 2…
