Australia prepares to upgrade its APA programme
September 06, 2010
Australia boasts impressive advance pricing agreement (APA) statistics. To ensure they stay ahead, the Australian Tax Office (ATO) is planning a significant overhaul of the system, a government spokesperson explains.
The Australian Tax Office (ATO) concluded 26 unilateral and 13 bilateral APAs in the 2009-10 financial year. In total 18 APAs were concluded for taxpayers in the large business market (those with revenue over A$250 million ($229 million)) and 21 APAs for taxpayers in small and medium enterprise (SME) market (with revenue of less than or equal to A$250 million). The ATO concluded 39 APAs compared with 29 APAs in the previous period.
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