Australia Posts Guidance for Country-by-Country Tax Reporting

Australia released guidance for multinationals and tax agents to register under a new regime for disclosing more information on companies and tax payments.

• The Australian Taxation Office’s instructions to register for the country-by-country reporting rules covers the information companies and their representatives must provide when filing the registration form.
• Australia passed legislation in November enacting the disclosure rules, which require large multinationals that have at least A$10 million ($6.5 million) in Australia-source revenue to provide information on their tax payments in Australia and around 41 other countries.
• The measure is backdated to July 1, 2024, for Australian companies.