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Australian Treasury releases Exposure Draft Bills on thin cap changes and tax transparency disclosure of information

|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation|Australia
Australia

  • Exposure Draft (ED) legislation is proposed to amend Australia’s thin capitalization rules to limit debt deductions of multinational enterprises (MNEs) to 30% of tax earnings before interest, taxes, depreciation, and amortization (EBITDA).

  • ED includes proposed amendments to remove deductions for interest expenses incurred to derive non-assessable income for certain foreign entity distributions.

  • Treasury also released ED legislation requiring listed and unlisted public companies to disclose informa…

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