Australia revises draft legislation for public country-by-country reporting

13 February 2024|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Transfer Pricing|Australia

Revised draft legislation contains a new requirement for large multinational entities to prepare certain information on a country-by-country basis for public release by the Australian Taxation Office.
Comments on the revised draft law are due by 5 March 2024.
Commencement of the new requirements is deferred by 12 months for financial reporting periods commencing on or after 1 July 2024.
The draft law provides a threshold of AU$10 million or more for Australian-sourced aggregated turnover.
The amount…

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