Australia Details Company Exemptions From Public Tax Reporting

Australia released final guidance Monday on how its tax office will grant or deny companies exemptions from its rules requiring them to publicly disclose tax payment information in the country and around 41 other jurisdictions where they operate.

The government will consider—but not automatically grant—exemptions if the information would impact national security, cause a breach of law in Australia or another jurisdiction, or reveal “commercially sensitive” information, according to the Australian Taxation Office.

The reporting requirements passed last year require large multinationals with at least A$10 million in Australia-sourced revenue to file information on their tax payments in the country ...