Multinational tax integrity: KPMG submission

This submission is in response to draft legislation which proposes to deny deductions for payments relating to intangible assets connected with low corporate tax jurisdictions.

KPMG has lodged a submission in relation to the draft legislation released by Treasury regarding a new measure to prevent large multinationals from claiming tax deductions for payments relating to intangibles connected with low corporate tax jurisdictions (intangibles measure). In our submission, we note concerns with the breadth of the measures as currently drafted. In its current form the intangibles measure will create double taxation outcomes and departs from internationally agreed prin...

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Authors: Alia Lum, Paul Sorrell,

Published Date: 03 May 2023