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13 Feb 14 More on ABNs with foreign directors

MEMBER 13 responds to the feedback from Member 4 in last week's TAXVINE - see 2014 TAXVINE No 1 (7 February 2014) - who warned about the ATO hurdles facing any Australian company seeking an ABN where the company has foreign directors and shareholders:

"I cannot understand why the ATO would be so difficult with company ABN applications for companies with foreign director shareholders.

All we need to do is set up the company with the Aussie director, get the ABN and TFN then appoint the foreign directors and issue the shares to the foreign shareholders?"