Disclosure of subsidiary information: KPMG submission

Financial statements may not be the most appropriate place for the proposed disclosure of subsidiary tax residency information, as outlined by Alia Lum, Michael Voogt and Jenny Wong.

The Federal Government released on 16 March 2023 the first tranche of draft legislation addressing tax transparency measures for multinational groups requiring Australian public companies (listed and unlisted) other than a corporate collective investment vehicle, to disclose information on their subsidiaries including details on their tax residence in their financial reports. These proposed amendments are part of the Government’s broader regulatory mix to improve corporate disclosures and in...

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Authors: Alia Lum, Michael Voogt,

Published Date: 18 April 2023