BOARD OF TAXATION Implementation of the OECD Hybrid Mismatch Rules – A Report to the Treasurer (31 March 2016) [The Report] Table of Contents FOREWORD – IV EXECUTIVE SUMMARY – 5 CHAPTER 1: INTRODUCTION – 11 Background – 11 Review process – 12 Overview – 13 UK Hybrid Rules – 14 European Commission action on…
In the 2016-17 Federal Budget (on 3.5.16), the Government announced that it would implement the OECD’s rules in BEPS Action 2 to eliminate hybrid mismatch arrangements, taking into account the recommendations made by the Board of Taxation in its report on the Australian implementation of the OECD hybrid mismatch rules. The report was announced on…
The Government released the Board of Taxation’s final report on a voluntary tax transparency code (TTC) on 3 May 2016. On 11 December 2015, the Board released a consultation paper. The Board completed its development of a tax transparency code and provided its report to Government on 16 February 2016. The code is designed to encourage greater public disclosure of tax…
BACKGROUND TACKLING MULTINATIONAL TAX AVOIDANCE The Government is strongly committed to ensuring that multinationals pay their fair share of tax in Australia. The Government has been working determinedly, in partnership with the Organisation for Economic Co-operation and Development (OECD) and through its leadership role in the G20, to ensure multinationals are paying their fair share…