The Australian Taxation Office (ATO) has announced that it has settled a transfer pricing dispute involving a procurement hub in Singapore, noting its focus on offshore procurement hubs in recent years to ensure that they are not used as a mechanism to shift profit from Australia.
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ATO settles dispute over Singapore hub
The ATO acknowledges the announcement by Ampol Limited (Ampol) that it has reached a settlement with the ATO for $157 million.
ATO Deputy Commissioner Rebecca Saint w…