Mandatory disclosure of subsidiaries’ tax residence

New requirements for Australian public companies to disclose certain tax-related information for all subsidiaries from 30 June 2024 financial years.

The Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Act 2024 (Amendments) passed both houses of parliament on 27 March 2024 and received Royal Assent on 8 April 2024.  The Amendments change the Corporations Act 2001 and introduce new mandatory disclosures for inclusion in annual financial reports.   Key highlights The new requirements apply to financial reports prepared by Australian public companies (listed and unlisted) for...

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Authors: Julie Locke, Zuzana Paulech,

Published Date: 23 April 2024