TPS is the winner of Australia Transfer Pricing Team of the Year, Asia Tax Awards 2016

Australia Transfer Pricing Firm of the Year • Singapore Transfer Pricing Firm of the Year • Best Newcomer of the Year, Transfer Pricing Solutions Asia • Asia Transfer Pricing Practice Leader of the Year, Shannon Smit

On 3 December the federal government passed the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015. The Bill implements the recent guidance set by the OECD as part of its Base Erosion and Profit Shifting (BEPS) initiative with respect to Action Plan 13 by introducing a new transfer pricing standard.

On 26 November the ATO provided further guidance on the application of the STPR options in the form of Frequently Asked Questions (FAQ). In the document, the ATO emphasises on the importance of demonstrating compliance with Australia’s transfer pricing rules, even when applying the STPR options.