Australia Sets Guide for Public Country-Specific Tax Filings

Australia finalized its instructions Tuesday for how multinational companies should file public reports to disclose their country-by-country tax information, over the objections of business groups.

The instructions issued by the Australian Taxation Office lay out how the reports should be completed and submitted, including information about companies’ business activities, profits, tax payments, and other data for 40 different jurisdictions. The ATO issued a draft version of the instructions in October.

The public country-by-country disclosure rules, enacted in 2024, apply to multinationals earning at least A$10 million ($6.6 million) in Australia.

The companies must report information on their ...