Australia has stepped up on the reviewing of transfer pricing methods and documentation. As such, careful deliberation must be exercised when selecting the most suitable TP method.
If you're an Australian company currently claiming tax deductions for cross-border payments then you MUST consider the imported mismatch rule.
Transfer Pricing (TP) is an area of tax that has been heavily impacted by COVID-19. The transfer pricing models and policies agreed pre COVID-19 may need to be revised and changed due to group losses, abnormal operating expenses, supply chain disruption and decrease in demand.
In collaboration with the Institute of Singapore Chartered Accountants (ISCA), a transfer pricing class designed to show you how to tackle transfer pricing in real life. Practical insights and hand on case studies.
If your business is engaged in international dealings with related parties, and has more than $2 million of related-party dealings, you are required to complete an international dealings schedule (IDS).
The MAAL will apply to taxpayers involved in a scheme resulting in the avoidance of taxable presence in Australia by a foreign entity that
is a significant global entity.