News in brief… 3 September

Glencore wins transfer pricing case; taxpayer’s strong comparables prevail; Government releases currency transaction report; ATO update: Consultation Steering Group meeting notes; ATO update: Advice under development.

Glencore wins transfer pricing case; taxpayer’s strong comparables prevailThe Federal Court delivered Glencore Investment Pty Ltd (Glencore) a significant win today in its long running marketing hub dispute with the Commissioner of Taxation (Commissioner). The Federal Court held that Glencore had discharged its burden of proof in relation to the transfer prices it used on certain cross-border related party transactions between its Cobar copper mining operations and its Swiss-based trading ent...

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Published Date: 03 September 2019