Authorities aim to stop multinationals pushing losses into Australia
November 26, 2008
Transfer pricing has long been an area of focus for the Australian Taxation Office. The ATO recently issued a taxpayer alert advising taxpayers that shifting of business losses into Australia will be under increased scrutiny
The release of the alert coincides with the current economic downturn that has increased the likelihood of commercial losses of multinational enterprises. Given the relative strength of the Australian financial market, multinationals may be tempted to shift their business losses to the country. This would result in falling tax revenues.
Sorry. You must be a subscriber to view this article. Alternatively, why not take a free trial? To subscribe and access this article immediately simply click here or call +44(0)207 779 8380.