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Major international tax reform with OECD Two-Pillar approach

04/11/2022

With increased globalisation and digitalisation creating growing concern about tax avoidance by multinationals, the OECD Two-Pillar approach aims to address international corporate tax challenges. On 4 October 2022, the Federal Treasurer released a consultation paper on the proposed implementation of the OECD’s two-pillar solution, with the consultation process finishing on 1 November 2022. The Two-Pillar […]

Reminder: Country-by-Country reporting deadline is coming

25/01/2022

Deadline is 4 February 2022 (in lieu of 31 December 2021). Failure to lodge can lead to Country-by-Country reporting entities being penalised up to $555,000 (per file). Who is affected? Country-by-Country reporting entity (CbCRE) with a 12-month income year ended 31 December 2020 CbCRE with a replacement reporting period ended 31 December 2020. Why is […]