20 December 2017 Australian Tax Office releases further guidance regarding cross-border related party financing and diverted profit tax The Australian Taxation Office (ATO) published the following documents on December 18: - - Practical Compliance Guideline (PCG 2017/4) (outlining the ATO compliance approach to cross-border related party financing arrangements; - - Law Administration Practice Statement (PSLA 2017/2) (outlining the ATO processes for initiating and implementing a Diverted Profits Tax (DPT) assessment); and - - Draft Law Companion Guideline (LCG 2017/D7) (for consultation — containing the ATO guidance on the application of the DPT — comments are due by February 16, 2018). A Global Tax Alert, attached below, provides additional details. ——————————————— ATTACHMENT Full text of Tax Alert 2017-2154 Document ID: 2017-2154 |