On 9 February 2017, legislation was introduced in the Australian parliament for several BEPS related measures, including:
- The introduction of a Diverted Profits Tax (DPT) imposed at a rate of 40% on profits that have been artificially diverted from Australia by multinationals with global revenue of AUD 1 billion or more (Significant Global Entities - SGEs), with exemptions for meeting an AUD 25 million turnover test, sufficient foreign tax test, or sufficient economic substance test ({News-2…