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Australia Floats Guidance For Diverted Profits Tax

Law360 (February 8, 2018, 6:59 PM EST) -- The Australian Taxation Office released a guidance draft Wednesday covering the steps multinational businesses can take if they suspect their arrangements with foreign affiliates might trigger the country’s controversial diverted profits tax, which is designed to prevent companies from shifting profits offshore.

The guidance draft outlined what the taxation office referred to as a “client engagement framework” for multinational businesses that believe they may have found diverted profit tax risks associated with their intercompany transactions. One option involves seeking entrance into the taxation office’s program for...
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