Australia Issues Taxpayer Alerts on Profit-Shifting Arrangements

On 26 April 2016, the Australian Taxation Office (ATO) announced that it is actively reviewing certain arrangements used by multinationals and large companies operating in Australia to ensure they pay the right amount of tax on income earned in the country. In connection with the announcement, the ATO issued four taxpayer alerts on arrangements of particular concern:

• Taxpayer alert TA 2016/1 Inappropriate recognition of internally generated intangible assets and revaluation of intangible as…