ATO signals focus on offshore profit shifting
July 13, 2011
Matthew Gilleard - ITR
The Australian Taxation Office (ATO) is targeting foreign companies that shift profits offshore to reduce their local tax liability. The application of transfer pricing rules will be reviewed.
The ATO outlined its annual compliance programme at the end of June, indicating it will be focusing on profit shifting and multinational borrowing in the coming year – July 1 2011 to June 30 2012.
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