The Australian Taxation Office has published an update to Taxation Ruling (TR) 2006/11 on Private Rulings. One of the main updates concerns the ability to obtain private rulings on interpretative issues relating to Pillar Two and on the new Pillar Two decline to rule provision. This includes the addition of two new sections, 40A and 40B.
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40A. The Commissioner may decline to rule where they consider that it would not be reasonable to comply with the application, where the relevant provi…