We're interested in stakeholder feedback on topics for upcoming consultation on the Public Country-by-Country (CbC) reporting rules.
The new rules will introduce reporting requirements for relevant companies to enhance the tax information they disclose to the public.
Assistant Commissioner Michael Ingersoll said, 'We're aware that there's interest from multinational entities and their advisers about how the ATO plans on administering the exemption regime, and that there may also be other areas where stakeholders have identified topics suitable for ATO guidance.
We're preparing an explanation of the law that will be published on our website soon, but we're happy to consider other suggestions on topics for guidance, or raise other questions about the administration of the law now.
This includes nominations to participate in our consultation group.
We'll also provide further information on consultation sessions soon,’ Michael advised.
Areas of interest may include:
- Feedback on the proposed Law Administration Practice Statement (PSLA) for exemptions; including scenarios relevant to the consideration of the Commissioner granting or refusing an exemption (full or partial) and evidentiary requirements to support an application.
- Other topics relevant to Public CbC suitable for ATO guidance. Note that suggested topics will be assessed for suitability and prioritisation for action and subject to ATO resource availability.
- Questions about complying with the Public CbC rules. The ATO is preparing the administrative arrangements to enable relevant multinational entities (MNEs) to register and publish to the Commissioner the approved form. Questions about these arrangements can also be submitted.
How to submit your questions
Questions on topics and nominations can be submitted PublicCBC@ato.gov.au.
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