By taxconnect on
Friday, November 04, 2011
Government proposes more "robust" transfer pricing rules for multinationals
In media release No 2011/145, issued 1 November 2011, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, announced that the Government will reform the transfer pricing rules in the income tax law and Australia's future tax treaties to bring them into line with international best practice, improving the integrity and efficiency of the tax system.
At the same time, Mr Shorten announced the release of a consultation paper relating to the proposed changes. The closing date for submissions on the consultation paper is Wednesday, 30 November 2011