On 19 December 2016, the Australia Treasury published a consultation paper on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) and on 20 December published draft legislation for consultation to increase administrative penalties imposed on companies with global revenue of AUD 1 billion or more (Significant Global Entities - SGEs) who fail to adhere to tax disclosure obligations.
BEPS Multilateral Instrument
The consultati…