House of Representatives

Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015

Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon J. B. Hockey MP)

Index

Schedule 1: Significant global entities

Bill reference Paragraph number
Item 1, subsections 960-50(7A) and (7B) 2.18
Item 1, subsection 960-50(7C) 2.19
Item 2, subsection 960-50(9) 2.18
Item 3, section 960-555 of the ITAA 1997 5.13
Item 3, subsection 960-555(1) 2.11
Item 3, subsection 960-555(2) 2.12
Item 3, subsection 960-555(3) 2.20, 2.22
Item 3, subsection 960-555(4) 2.24
Item 3, subsection 960-555(5) of the Taxation Administration Act 1953 2.25
Item 3, subsection 960-555(6) 2.23
Item 3, subsection 960-555(7) 2.28
Item 3, section 960-560 2.13
Item 3, paragraph 960-565(a) 2.15
Item 3, paragraph 960-565(b) 2.16
Item 3, section 960-570 2.31
Item 3, subparagraph 960-570(a)(i) 2.32
Item 3, subparagraph 960-570(a)(ii) 2.33
Item 3, paragraph 960-570(b) 2.34, 2.35
Item 4, subsection 995-1(1) 2.36
Item 5, section 14ZVA of the Taxation Administration Act 1953 2.25

Schedule 2: Schemes that limit a taxable presence in Australia

Bill reference Paragraph number
Item 1, subsection 177A(1) - 'Australian customer' 3.23
Item 1, subsection 177A(1) - 'Australian entity' 3.25
Item 1, subsection 177A(1) - 'foreign entity' 3.31
Item 1, subsection 177A(1) - 'entity' 3.32
Item 1, subsection 177A(1) - 'supply' 3.34, 3.35
Item 1, subsection 177A(1) - 'Australian permanent establishment' 3.50
Item 1, subsection 177A(1) - 'significant global entity' 3.18
Items 2, 5 and 6 3.117
Item 3, subsection 177CB(5) 3.97
Item 4, subsection 177DA(1) 3.85
Item 4, subparagraph 177DA(1)(a)(iii) 3.21, 3.41, 3.42
Item 4, subparagraph 177DA(1)(a)(iv)) 3.21, 3.46
Item 4, subparagraph 177DA(1)(a)(v) 3.21, 3.48
Item 4, paragraph 177DA(1)(b) 3.51, 3.61, 3.64
Item 4, subsection 177DA(2) 3.53, 3.67
Item 4, paragraph 177DA(2)(a) 3.69
Item 4, paragraph 177DA(2)(b) 3.74
Item 4, paragraphs 177DA(2)(b) and (c) 3.72
Item 4, paragraph 177DA(2)(c) 3.80
Item 4, subparagraph 177DA(1)(a)(i) 3.21, 3.22
Item 4, subparagraph 177DA(1)(a)(ii) 3.21, 3.38
Item 4, paragraph 177DA(1)(c) 3.17
Item 4, subsection 177DA(3) 3.65
Item 4, subsection 177DA(5) 3.84
Item 7 3.118, 3.119

Schedule 3: Scheme penalties for significant global entities

Bill reference Paragraph number
Item 1, subsection 284-155(3) 4.8
Item 1, paragraph 284-155(3)(a) 4.9
Item 1, paragraph 284-155(3)(b) 4.11
Item 2 4.17

Schedule 4: Country-by-country reporting

Bill reference Paragraph number
Item 1, section 815-350 of the ITAA 1997 5.38
Item 1, subsection 815-355(1) of the ITAA 1997 5.27
Item 1, paragraph 815-355(1)(d) of the ITAA 1997 5.22
Item 1, subsections 815-355(1) and (2) of the ITAA 1997 5.13
Item 1, subsections 815-355(2) and 815-360(1) of the ITAA 1997 5.30
Item 1, subsection 815-355(3) of the ITAA 1997 5.23
Item 1, subsection 815-360(1) of the ITAA 1997 5.15
Item 1, subsection 815-360(2) of the ITAA 1997 5.16
Item 1, subsections 815-365(1) and (2) of the ITAA 1997 5.17
Item 1, subsection 815-365(3) of the ITAA 1997 5.18
Item 2 5.39


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