Diverted profits tax: where are we now? - 27 September 2018
The ATO has released updated, finalised guidance in respect of the Diverted profits tax (DPT).
On 26 September 2018, the ATO issued finalised guidance, being:
- Practical Compliance Guideline PCG 2018/5: Diverted profits tax. The PCG sets out a practical administration approach from the ATO to assist taxpayers in complying with the law; and
- Law Companion Ruling LCR 2018/6: Diverted profits tax. This ruling describes how the Commissioner will apply the law to entities that rely on the LCR in good faith.
The ATO also issued a compendium supporting both documents addressing some of the issues raised during consultation and the ATO responses.