Diverted Profit Measure - Update | Deloitte Australia | Tax | Insights has been added to your bookmarks.
Diverted Profit Measure - Update
Following the Treasurer’s announcement the day before the 2015-16 Federal Budget of an integrity measure specifically aimed at addressing multinational tax avoidance, Treasury has released Exposure Draft legislation - draft Tax Laws Amendment (Tax Integrity Multinational Anti-avoidance Law) Bill 2015.
The Explanatory Memorandum (“EM”) released with the Exposure Draft legislation indicates that the new provisions are only intended to target “the most egregious tax structuring by multinational entities, while limiting the impact on legitimate international business activities”.
The EM explains that the draft legislation will introduce changes to Australia’s general anti-avoidance provisions in Part IVA to “negate certain tax avoidance schemes used by multinational entities to artificially avoid the attribution of business profits to a permanent establishment in Australia”.
Explore the complete Federal Budget website to read more.