Australian Tax Office To Issue “Tax Certainty” Letters


By Global Tax Weekly

Australia’s rap sheet of tax-related misdemeanors grew yet longer in the past few days. First, we had further backpeddling on the backpacker tax, followed by the news that Australia is forging ahead with a UK-style diverted profits tax, a BEPS-inspired measure that has made even the OECD a little uneasy. Then the OECD itself was on the Government’s case for repeated failures to follow through on tax reform pledges.

There was one bright spot though, and it came in the form of an announcement by the Australian Tax Office that it would issue “tax certainty” letters to taxpayers, guaranteeing them that, as far as the tax man is concerned, they are fully tax compliant and that they need not fear checks or audits. However, given the upending of the tax ruling systems in other parts of the world, namely the EU, taxpayers might be forgiven for treating such promises with a pinch of salt.


For more information on this, and other topical international tax matters, please visit: https://www.cchgroup.com/roles/corporations/international-solutions/research/global-tax-weekly-a-closer-look





Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>



RELATED ARTICLES AND INFORMATION

Ireland Announces New COVID Measures

In Ireland, which is currently stepping back up the COVID restriction ladder, the Government announced changes to the Employment Wage Subsidy Scheme (EWSS) and...

Poland Ponders Corporate Tax Reform

Two bills currently before Poland’s parliament would bring about sweeping changes to the country’s corporate tax rules. Some of the proposed changes were consulted...

Australia Announces Budget Measures

The Australian Government announced in its Budget that it would be bringing forward personal tax cuts that had been scheduled for 2022.

The Australian authorities...