Australia Tax Office Missed Transfer Pricing Targets, Audit Says

The Australian Tax Office failed to meet targets to conduct assurance reviews of major taxpayers’ use of transfer pricing, the national auditor office said Wednesday.

Over the past four years, the ATO did not meet its annual targets to conduct assurance reviews of all top 100 taxpayers, and 250 of the top 1,000 taxpayers, an Australian National Audit Office report said.

Across the 2020-21 to 2022-23 fiscal years, the office reviewed 66% of taxpayers in top 100 taxpayer program comprising 85 taxpayers, and 61% of the top 1,000 taxpayers, ANAO said.

Although the ATO was largely effective at managing ...