Why joint audits are yet to take off
01 June 2012
Last June, International Tax Review looked at the concept of joint auditing while the mechanism was still in its infancy. One year on, Matthew Gilleard assesses how things have progressed and if we have any clearer idea of whether the process works in reality.
|Australian Tax Commissioner Michael D’Ascenzo has been championing the joint audit process
In the last 12 months, information-obtaining has come under scrutiny
like never before, with the phone hacking scandal that shook News
Corporation coming to a head with the establishment of the Leveson
Inquiry into media standards. But at the same time, in the tax world,
information exchange is continuing to increase, and such flows of
information happen not only through formal procedures, but also on an
informal level. The tax world is becoming more and more transparent, and
with international organisations including the OECD supporting
processes such as multi-jurisdictional audits, different countries are
increasingly looking to work together on compliance and administration
issues. This is even more so given that cross-border transactions and
structures are becoming more complex while national budgets remain
An OECD report commissioned by the Forum on Tax...
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