The Inspector-General of Taxation (IGT), Mr Ali Noroozi, on Thur 19.6.2014, commenced a review into the ATO’s management of tax disputes involving large businesses and high wealth individuals (HWIs). Mr Noroozi said on 2 June 2014, the Acting Assistant Treasurer, Senator Mathias Cormann, referred an inquiry into tax disputes to the House of Reps Standing Committee on Tax and Revenue. The Committee stated that it would examine the issues in the inquiry through a number of themes which consist of every taxpayer market segment and the related legal and governance frameworks. The IGT has been asked to review the large business and HWI themes.
Having regard to the high levels of disputation within the large business and HWI market segments, the potential for significant impacts on revenue and the ATO’s improvement initiatives following earlier IGT reviews, the IGT said he considered that the Committee’s inquiry was timely and appropriate. As part of his review, the Inspector-General is inviting interested stakeholders to provide their views on potential improvements and examples of ATO approaches, which have yielded positive outcomes.
The Terms of Reference and submission guidelines are available on the IGT website.
COMMENTS are due by 18 July 2014.
Source: IGT media release, 19 June 2014
[LTN 116, 19/6/14]