Daily Tax Report: International

Australia Pushes Back Complex Tax Disclosure Reports for Private Groups

Oct. 8, 2019, 2:13 PM

Australia has postponed for a year a rule forcing large private companies to disclose their most contentious tax arrangements.

The country’s Reportable Tax Position regime, which already applies to multinational groups, will now take effect July 1, 2020, the Australian Taxation Office said Oct. 8.

  • It was due to take effect for the 2019-20 financial year but the ATO deferred this after taxpayers raised concerns over how the disclosed information would be used and the need for more time to implement the scheme similar to that allowed to large multinational groups.
  • The ATO wants to use the RTP...
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