Transfer Pricing and Country-by-Country Reporting – ATO uploads a ‘High Level Design’ guidance for the requirement to lodge the ‘Local File’ under existing law starting this year
The ATO has made available (on it’s website) a document which it calls: ‘Local File – high level design’ to help taxpayers understand their new reporting requirements as part of Country-by-Country (CbC) reporting. The Local File is of one of three statements multinational entities, with an annual global income of at least A$1 billion, are required to provide…