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Australia Archive

  • December 2015

    The Cunningham column: China gets ready to lead tax world in 2016

    December 15, 2015

    China will be at the forefront of BEPS implementation in 2016, as president of the G20. Ralph Cunningham says it is a big opportunity for a non-OECD member to shape the international tax system.

  • The Brockman brief: BEPS implementation: A holiday wish

    December 15, 2015

    Drafters of the new base erosion and profit shifting (BEPS) actions and precision watchmakers share a common wish; that their immeasurable efforts devoted to refining and juxtaposing complex parts result in an instrument that is respected and trusted around the world.

  • BEPS Special

    December 15, 2015

    Matthew Gilleard introduces this exclusive, comprehensive insight into the work of the OECD in the area of countering tax base erosion and profit shifting (BEPS). Within these covers you will find out about the key messages delivered under each of the OECD’s 15 Actions, direct from the individuals responsible for putting each aspect of the project together.

  • Intercompany charges below EBIT: A double-edged sword

    December 15, 2015

    Luis Abrantes, tax director and head of transfer pricing at Carlsberg Group, draws on practical experiences to unpick the intricacies of intercompany charges.

  • Australia: Tax reform topics continue to dominate political scene in Australia

    December 15, 2015

  • 2016 Look-Ahead: BEPS implementation to dominate international tax landscape

    December 15, 2015

    With the final deadlines for the OECD’s BEPS Project falling at the end of this year, 2016 was always going to be a year dominated by questions about implementation. While BEPS-related activity is not the only issue on the horizon, that alone will ensure multinationals are kept busy over the next 12 months. Joe Stanley-Smith and Matthew Gilleard look through the peephole to analyse taxpayer hopes, fears and expectations for the year ahead.

  • November 2015

    Australia continues targeted approach to dispute resolution

    November 06, 2015

    The Australian government is handing out harsher penalties to multinationals which avoid tax, but has recently settled a backlog of cases from 2014 for less money than expected.

  • October 2015

    Mind your own business: The importance of knowing what we really do

    October 29, 2015

    Steven Ouwerkerk, global head of tax at APM Terminals, argues that to deal with the corporate challenges of operating in an increasingly borderless world, multinationals must learn to operate in a department-less manner, sharing experiences across functions and understanding issues from a variety of perspectives. He also brings a new meaning to the phrase ‘mind your own business’.

  • The Brockman brief: Tax transparency: Is it a one-way street?

    October 29, 2015

    The envisaged ideals of ‘tax transparency’ are being proposed, and legislated, by tax administrations worldwide. This month’s Brockman brief focuses on the fact that mutual and reciprocal tax transparency with multinational entities (MNEs) remains somewhat elusive. It is now time to briefly assess some of these initiatives to fairly gauge the mutuality of such initiatives.

  • The Cunningham Column: Every little helps in international tax reform

    October 29, 2015

    To start his new monthly column, Ralph Cunningham, the Hong Kong-based managing editor of International Tax Review, argues that capacity building will be critical to BEPS implementation in the Asia-Pacific region if piecemeal, unilateral measures are to be avoided.

  • Australia: Australia’s response to BEPS to date

    October 29, 2015

  • BEPS implementation: The role of a multilateral instrument

    October 27, 2015

    Jeffrey Owens, director of the Global Tax Policy Centre at the Vienna University of Economics and Business (WU) Institute for Austrian and International Tax Law (IAITL) and former OECD tax chief, and Nathalie Bravo, research associate at the IAITL, explore the role of a multilateral tax instrument in implementing BEPS Project measures, and analyse the treaty issues and technical challenges to be overcome.

  • Hall & Wilcox hires Murray from KPMG

    October 13, 2015

    Peter Murray, a leading Big 4 tax adviser in Australia, has been appointed head of tax at Hall & Wilcox.

  • September 2015

    The Brockman brief: Performance review: The OECD’s reputation

    September 29, 2015

    The curtain is drawing to a close on the final OECD BEPS recommendations, while the OECD actors and supporting staff anxiously await reaction from the audience. This month’s Brockman brief runs the rule over the OECD’s BEPS work to date and looks ahead to see how developments are likely to impact the organisation’s reputation as the ‘go-to’ body for international tax matters.

  • Australia: Multinational entity (MNE) anti-avoidance Bill introduced

    September 29, 2015

  • August 2015

    Australian businesses want tax reform momentum

    August 26, 2015

    Businesses are latching onto Australian Treasurer Joe Hockey’s commitments to reducing personal income tax, calling for such reforms to be extended to corporate taxation, too.

  • Issues the economist forgets? TP policy – a banking perspective

    August 21, 2015

    After spending 15 years in-house, Ben Henton last month joined BDO as a transfer pricing director. He returns to the UK from Asia after four years working at HSBC and DBS Bank in Hong Kong and Singapore. Here, he addresses operational risk challenges in transfer pricing (TP) from an in-house perspective, going beyond technical TP legislation and guidelines.

  • A tax system for sustainable growth

    August 21, 2015

    In this exclusive op-ed piece for International Tax Review, Chris Lenon, former head of tax for Rio Tinto and an expert witness to the Independent Commission for the Reform of International Corporate Taxation (ICRICT), argues that a focus on incentives and ultra low or no tax jurisdictions should be policy makers’ priority, rather than ideas included in the commission’s report, such as allocation.

  • Australia: Transparency still tops Australian Government’s agenda

    August 21, 2015

  • Uber challenges Australian authorities over GST application

    August 03, 2015

    Transportation network company Uber has locked horns with the Australian Taxation Office (ATO) over demands that its drivers pay goods and services tax (GST).

  • July 2015

    The Brockman brief: Illusory transparency: A symptom of BEPS complexity

    July 10, 2015

    The inception of the OECD’s base erosion and profit shifting (BEPS) action plans was accompanied by new demands for fiscal transparency, ignoring omnipresent thorns of complexity.

  • Vicious and virtuous circles: Planning for change with Schroders’ group tax head

    July 10, 2015

    Joe Stanley-Smith talks to Sue Cooper, group head of tax at global asset management company Schroders, about inter-departmental cooperation, planning for change and the difference between vicious and virtuous circles.

  • BEPS implementation in the US - Now comes the hard part

    July 10, 2015

    While the OECD has political backing and momentum behind it, the organisation has no binding authority to implement legislation, so the engagement of key jurisdictions including the US will be central to the project's ultimate success. Ryan Dudley, partner at Friedman, explains why the hard yards still lie ahead.

  • Australia: Australian Budget measures receive royal assent

    July 10, 2015

  • May 2015

    The Brockman brief: UK diverted profits tax: The extrapolation effect

    May 27, 2015

    The UK's diverted profits tax (DPT) was developed, and enacted, quickly in the weeks leading to the general election. The legislation was a two-pronged attack: on transactions having insufficient economic substance and the avoidance of permanent establishment (PE). The legislation went into effect April 1 2015 and there have been hints that other countries are looking at similar moves; but exactly what tax doctrines will other countries adopt to achieve similar objectives?

  • BEPS: Improving data, economic analysis and measurement

    May 27, 2015

    It is stating the obvious to say that current international efforts to tackle base erosion and profit shifting (BEPS) have attracted a great deal of global attention. Since the OECD and G20 countries, working together on an equal footing, adopted a 15-point action plan to address BEPS in September 2013, the focus on this issue has steadily grown. David Bradbury, head of the tax policy and statistics division at the OECD Centre for Tax Policy and Administration, and the man overseeing this aspect of the project, provides exclusive insight into an action point that has not always received as much attention as other items in the Action Plan.

  • Shifting the balance: Asia’s move to indirect tax

    May 27, 2015

    With China poised to complete its VAT roll-out in the second half of this year and India hoping to introduce GST in 2016, the next few years will see 2.5 billion people paying consumption tax more efficiently than ever before on the goods and services they are buying at an ever increasing rate. Meredith McBride tracks the shift from direct to indirect taxation in Asia.

  • Australia: Hockey announces 2015-2016 Budget

    May 27, 2015

  • Budget confirms Australian commitment to tougher anti-avoidance measures

    May 13, 2015

    Australian Treasurer Joe Hockey had plenty to say about large companies and their tax arrangements in his annual budget statement on May 12.

  • EC's digital single market strategy aims to reform VAT for B2C online retailers by 2017

    May 13, 2015

    The European Commission‘s ambitious plans to improve the digital single market include changes to the VAT treatment of the cross-border supply of goods and services.

  • ‘Netflix tax’ and diverted profits expected to feature in Australian budget

    May 08, 2015

    Though broad-based tax reform will wait until after a white paper is published later this year, tax professionals expect Australia’s May 12 Budget to continue to lay the foundation for furthering the OECD BEPS initiative, including discussions on controversial taxes on diverted profits and e-commerce sales.

  • BHP Billiton faces $432 million tax bill in Australia

    May 06, 2015

    The Australian Tax Office has challenged the transfer pricing practices of BHP Billiton, serving the country’s largest taxpayer with a A$522 million ($432 million) tax bill, based on the pricing of goods it sold to a marketing affiliate in Singapore. The company’s Singapore tax bill is also being questioned under Australia’s controlled foreign company (CFC) rules, which require a minimum payment of tax.

  • April 2015

    The Brockman brief: Timing symmetry is shattered: CbCR and TP documentation

    April 28, 2015

    May’s instalment of his column sees Keith Brockman, global tax director at Mars, lecturer and author of the Strategizing Multinational Tax Risks blog, look at the problems that may arise for taxpayers given the timing differences applicable for different documentation and reporting requirements, and what options are available for reconciling these.

  • Tax planners' task tougher than ever

    April 28, 2015

    Failing to plan is planning to fail. We are all familiar with the phrase. But practising what one preaches in this regard has never been more important for corporate taxpayers.

  • DPT: Counterbalancing the UK's 'open for business' agenda?

    April 28, 2015

    The introduction of the UK's diverted profits tax (DPT) on April 1 2015 has dismayed tax practitioners and their multinational clients. Rushed through parliament (ahead of its dissolution before the general election) it seemed intended to appease public anger at multinationals failing to pay their 'fair share' of tax. It has been roundly criticised for its breadth and complexity, for the speed with which it has been introduced, for the lack of public consultation and parliamentary scrutiny, and for pre-empting the multilateral response to tax avoidance of the G20/OECD BEPS Project. DLA Piper's Stephen Jones asks whether the DPT has created a cloud of uncertainty to cover the previous decade’s climate of reform favourable to global business.

  • Australia: Reforms on the horizon as anti-avoidance action continues

    April 28, 2015

  • Australia and UK want to go “further and faster” than the OECD on diverted profits action

    April 27, 2015

    The UK diverted profits tax (DPT) – dubbed the Google tax – has been in effect for almost a month, and Australia is looking at similar action to be included in its May 12 Budget speech, after signalling a desire to move “further and faster” than the OECD-led BEPS project. If other jurisdictions follow suit, this could drastically dilute the impact of multilateral efforts.

  • Australia’s managed investment trust tax regime creates opportunities and liabilities

    April 16, 2015

    Though Australian tax advisers and fund managers have made positive noises about long-awaited amendments to the managed investment trust (MIT) tax regime, they say the government still needs to fine-tune some aspects, including treatment of limited partnerships and multi-class trusts, before the Bill is introduced to Parliament later this year.

  • Cable & Wireless wants $452 million refund from Australian Taxation Office

    April 13, 2015

    UK-headquartered Cable & Wireless Communications (CWC) has lodged a claim with the Australian Tax Office (ATO) for a refund of almost A$500 billion in what it claims are illegal taxes on the treatment of share buy-backs during the company’s sale of Optus in 2001.

  • Australian inquiry scrutinises Apple, Google, Microsoft tax structures

    April 08, 2015

    Apple, Google and Microsoft have denied that they avoid tax during a day-long grilling by Australian senators.

  • World Tax and World Transfer Pricing 2016: The research period is now open

    April 02, 2015

    Don't miss out on your chance to be included in International Tax Review's directories of the leading tax and transfer pricing firms around the world.

  • Australia to follow UK lead on taxing diverted profits

    April 01, 2015

    Joe Hockey, Australia’s treasurer, warned taxpayers this week that his Budget on May 12 will target corporate profit shifting, following the UK’s diverted profits tax (DPT or so-called Google tax).

  • March 2015

    Australia eyes taxation overhaul in tax reform discussion paper

    March 31, 2015

    On March 30, Australia’s treasurer Joe Hockey announced a tax reform discussion paper titled Re:think, in prelude to a white paper expected late this year. Advisers say that reform of corporate and personal income tax hinges on changes to the rate and base of GST – an option that remains politically unpopular.

  • The Brockman brief : TP risk determination: Transparency and mutuality

    March 25, 2015

    This month, Keith Brockman, global tax director at Mars, lecturer and author of the Strategizing Multinational Tax Risks blog, runs the rule over issues of transfer pricing risk determination, focusing on transparency and the benefits of increased levels of authority reciprocity.

  • Australia: Australia updating financial services tax concessions

    March 25, 2015

  • Australian taxpayers baulk at Labor Party’s challenge to thin-capitalisation

    March 06, 2015

    Business leaders and advisers have strongly criticised a plan from Australia’s opposition Labor party to increase the tax burden on corporations by changing the thin-capitalisation threshold.

  • Switzerland and Australia commit to automatic exchange of tax information

    March 03, 2015

    Switzerland has agreed to the automatic exchange of tax information with another jurisdiction for the first time.

  • February 2015

    The Brockman brief: Interest: Double taxation equality is fading

    February 24, 2015

    In the first of his regular monthly updates, Keith Brockman, global tax director at Mars, lecturer and author of the Strategizing Multinational Tax Risks blog, looks at why countries are enacting unilateral legislation to limit interest deductibility, the shift in focus from eliminating double taxation to eliminating non-taxation, and why, as a result, double taxation via interest limitations is here to stay.

  • Cheers! Celebrate the world's top transactional firms

    February 24, 2015

    International Tax Review analyses global M&A trends from the past year and highlights the leading firms for tax transactional advice by jurisdiction.

  • Australia: Recent court case roundup; Structural reform delayed

    February 24, 2015

  • Australia audits 20 ‘high risk’ corporations

    February 06, 2015

    The Australian Tax Office (ATO) has confirmed it has commenced 20 audits of ‘high risk’ corporations including 12 international technology companies.

  • OECD will update G20 finance ministers on BEPS project implementation next week

    February 06, 2015

    G20 finance ministers will hear about the OECD's three-pronged approach to implementation of the BEPS Action Plan at their meeting in Istanbul on Monday and Tuesday of next week (February 9 and 10).

  • January 2015

    BEPS – Preventing treaty abuse: A practical perspective

    January 27, 2015

    Keith Brockman, global tax director at Mars and author of the International Tax Best Practices blog, analyses BEPS Action 6 on preventing treaty abuse, calling for more balance in seeking to avoid double taxation and double non-taxation, and more guidance on the interplay between domestic law and treaty interaction.

  • Mariano Giralt: Global custodian and acronym-buster

    January 27, 2015

    The landscape of international taxation is changing. The OECD’s BEPS project is likely to rewrite the rules governing international taxation in a way that has not been seen since the League of Nations shaped existing rules in the 1920s. A key component of this is taxation of the financial sector. Various sector-specific tax laws have been proposed. This is providing those in the sector with plenty to think about. One such figure is Mariano Giralt, Managing Director, Tax Services, at BNY Mellon. He talks to Matthew Gilleard about some of the key tax developments impacting financial services.

  • In taxpayers' sights: What to look out for in 2015

    January 27, 2015

    With multilateral projects due for final delivery, and many of 2014’s key themes lingering on, 2015 comes with a lot of unfinished business.

  • Full plate for taxpayers seeking certainty in 2015

    January 27, 2015

    With multilateral projects reaching their climax in 2015, the year ahead is sure to be filled with moments that define the future direction of international taxation. Matthew Gilleard highlights some of the major trends taxpayers should be looking out for in 2015.

  • Indirect tax: Innovation, energy, and e-commerce

    January 27, 2015

    As global communications become more efficient, developing countries are fast-tracking their progress to becoming global economies – with VAT and excise tax reforms a crucial part of that process. Meredith McBride speaks with indirect tax leaders to pinpoint the issues that will have taxpayers and their advisers scratching their heads in 2015.

  • Moving goalposts mean taxpayers must stay on toes

    January 27, 2015

    Joe Stanley-Smith analyses how new attitudes and initiatives from tax authorities in key jurisdictions will influence the national and international tax dispute landscape in 2015.

  • Australia: Recent cases, ATO rulings and the year ahead

    January 27, 2015

International Tax Review Profile

RT @CBItweets: UK needs a Budget that enables the country to grow its way out of austerity. Here are 5 business priorities https://t.co/CAw

Oct 19 2017 09:19 ·  reply ·  retweet ·  favourite
International Tax Review Profile

This year's World Tax directory is now online. How does your firm stack up? https://t.co/CtRbW1Ub5j

Oct 19 2017 09:13 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @AuroChardon: Let's honour the #memory of a brave #journalist and woman ➡️ vigil tomorrow, 18 Oct, 6pm, in front of Residence Palace #Da…

Oct 18 2017 04:42 ·  reply ·  retweet ·  favourite
International Tax Review Profile

Big Soda scores victory as Chicago-area tax repealed - could this be the beginning of the end of the sugar tax trend?https://t.co/PNuafWHy9K

Oct 12 2017 04:03 ·  reply ·  retweet ·  favourite
International Tax Review Profile

Ebay and Netflix pay total UK tax of less than £1.9m - How long until HMRC investigate their TP practices? https://t.co/VPPsT3aGMZ via @FT

Oct 12 2017 03:59 ·  reply ·  retweet ·  favourite
International Correspondents