Australian public country-by-country reporting legislation introduced

After a lengthy consultation process, the legislation to implement mandatory public disclosures of country-by-country tax information for multinational groups has been introduced to the Australian Parliament.

The Federal Government, on 5 June 2024, introduced legislation which proposes to implement Australian public country-by-country reporting (CbCR), for reporting periods that start on or after 1 July 2024. This new tax transparency measure will significantly enhance the tax information that multinational groups will need to disclose to the public – affecting not only Australian headquartered multinational (MNE) groups but also foreign owned multinational groups with Australian operations over a...

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Authors: Alia Lum, Tim Keeling,

Published Date: 06 June 2024