Upcoming Dbrief on Australian transfer pricing reform
Australian Transfer Pricing laws are undergoing their most radical changes in 30 years. What could these new laws mean for Asia Pacific multinationals?
In this Dbrief we'll discuss:
- An update on recently passed retrospective transfer pricing reforms as well as soon-to-be released draft legislation on amended prospective transfer pricing rules
- Rule changes adopted and proposed, including adoption of a self-assessment regime, alignment of Australian rules and OECD Transfer Pricing Guidelines, amended transfer pricing documentation requirements, limitation of years available to make adjustments, and a proposal to align Australia's permanent establishment profit attribution rules with the OECD-endorsed approach.
- The potential impacts of these reforms on businesses operating in Australia and how best to manage the opportunities and risks arising from the reforms.
Understand the latest transfer pricing developments and their impact on your organisation. This session will run on Friday November 16 2012 for 1 hour commencing at 1:00pm HKT (GMT +8).
Bill passes its third reading
The Taxation (Annual Rates, Returns Filing, and Remedial Matters) Bill passed its third reading on Thursday 25 October 2012 and is now awaiting royal assent. This is the bill that contains the profit distribution plan rules, unsuccessful software changes, GST changes, measures to simplify filing requirements for individuals and further Canterbury Earthquake relief issues (mostly concerning the treatment of insurance proceeds in certain situations).
We will report more on these in our next issue.
Tax Alert November 2012 Contents:
- Tax Alert - November 2012
- The binding rulings process – the price of certainty
- New Zealand’s foreign trust rules – legitimate tax avoidance?
- Penny & Hooper - extended timeframe for voluntary disclosure concession
- Update on salary trade-off reforms
- Inland Revenue’s approach to time of supply has far reaching implications for GST registered persons
- The most significant case in Australia about the definition of “Supply”
- Bill passes its third reading