The Australian government’s proposals on tax transparency are aimed at ensuring companies pay their fair share of tax and do not engage in tax minimisation. In this Q&A, Michelle de Niese, assistant director of the Corporate Tax Association (CTA), which represents Australian companies, explains why the CTA does not believe the proposals measure up to their objectives.
In-house tax departments, both big and small, have extra chances at recognition at International Tax Review’s European Tax Awards 2013 presentation at the Dorchester hotel in London on May 15.
Taxpayers in the US could have to pay to participate in the IRS’s Compliance Assurance Process (CAP) in the future, if a review by tax officials comes out in favour of charging user fees for the pre-filing programme that attempts to resolve any issues before a tax return is filed.
Australian companies will have to plan for disruption to cashflow, and higher funding and compliance costs because of changes to the way they pay corporation tax.
The new group set up as a technical advisory body to the International Accounting Standards Board (IASB) will consist of members from 12 accounting standard-setters around the world, including the Financial Accounting Standards Board in the US.
Pascal Saint-Amans, the OECD’s chief tax official, has said the organisation’s action plan on base erosion and profit shifting will give a sense of direction, rather than come up with a set of rules for changing how multinational businesses are taxed.
