Australia Consults on Intangibles Held in Low-Tax Jurisdictions
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Australia Consults on Intangibles Held in Low-Tax Jurisdictions
The Australian Taxation Office is consulting on antiavoidance rules targeting large multinational enterprises to prevent tax deductions on payments for intangibles held in low- or no-tax jurisdictions, ensuring these corporations pay their fair share of tax in Australia. William Hoke discusses concerns law firms and consultancies raised about the exposure draft's broad scope and lack of purpose-based requirements, potentially impacting many jurisdictions in the proposed antiavoidance rules for multinational companies.
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