Australia Seeks Input on Country-By-Country Tax Reporting Rules

Australia is seeking feedback on its recent country-by-country tax reporting draft guidelines, including areas where taxpayers need additional guidance.

The Australian Tax Office is opening a consultation this month to get stakeholders’ thoughts on its draft public country-by-country report filing instruction “to ensure it is clear, fit-for-purpose, and supports consistent, meaningful and comparable public reporting.”

The ATO said it aims for the consultation, which the office expects to close in October, to clarify expectations around disclosure formats and content and identify areas where further help may be needed.

• Australia enacted the disclosure legislation last November, requiring large multinationals ...