Published on 10 Oct 13
by VICTORIAN DIVISION, THE TAX INSTITUTE
On 4 February 2013, the Assistant Treasurer, David Bradbury, announced a new and somewhat radical initiative for highlighting the identities of multinational corporate groups who pay little tax in Australia. These controversial measures have simultaneously triggered support and opposition from different parts of ourcommunity. This paper takes a deep dive into the issues that emerged from Bradbury’s initiative, including:
- where are we at, and what is proposed?
- global response by governments to BEPS concerns about risk to tax base.
- where did this come from and what does it mean for multinational corporations (MNCs)?
- does the legally correct amount of tax necessarily equal the morally correct amount of tax? If not, what amount should be paid?
- naming and shaming – the court of public opinion
- balancing taxpayer privacy against the public interest
- role of OECD – pronouncements to address changed MNC business environment and platforms
- G20 announcements and collaboration
- impact of increased transparency and reporting on how much tax is being paid and where
- Australian Government response – Treasury SPG working group and mid-year report
- managing this new environment – challenges for MNCs.
Anthony Stolarek CTA
Tony engages with Australia's federal and state governments, Treasury and Taxation Office on tax policy and tax administration, through the EY Australia Tax Centre for Excellence. In his EY role and membership of the Institute of Chartered Accountants in Australia tax technical committee, he is heavily involved in submissions to government and the ATO on policy proposals, changes in the tax system and improving its administration and interpretation. Tony is an ICAA representative on the ATO National Tax Liaison Committee and various subcommittees and a member of the Law Council of Australia Business Law tax committee. He is also involved in the EY global Tax Policy Services network which has had significant focus on Base Erosion and Profit shifting in the last year. Tony is a member of the Treasury Special Reference Group relating to its scoping paper dealing with the Risks to Sustainability of the Corporate Tax Base. Current at 14 August 2013
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Frank Drenth CTA
Frank has been Executive Director of the Corporate Tax Association (CTA) since 1998. Frank has had involvement on behalf of external stakeholders in the development of Australia's tax policy and law, and aspects of tax administration relevant to large companies. Frank is a member of a number of consultation groups, including the NTLG, the Large Business Advisory Group, and various specific issue consultation groups.
In 2012 Frank was a member of the Business Tax Working Group, which looked at the tax treatment of losses as well as at the business tax system more broadly. More recently, he was appointed to the Stakeholder Reference Group on the Taxation of Multinational Enterprises in Australia. Frank has also contributed to the development of Australia's General Anti-Avoidance Rules through his membership of the Part IVA Roundtable.
Current at 14 August 2013
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