The Australian government has opened a consultation period for its new diverted profits tax plan, released May 2 as part of the 2016-2017 Budget.
Australia's DPT proposal builds on the multinational anti-avoidance law (MAAL) introduced in the 2015 Budget. The consultation period is open until June 17 2016.
This new tax would bring Australia’s policy close to the UK DPT, which has drawn international criticism. It is not yet clear whether the UK’s DPT, in effect since 2015, has made significant revenue gains for the UK authorities.
A comparison of the two proposals is shown below.