The increasing role of the ATO in FIRB applications

As outlined by Scott Farrell, Tony Mulveney, Grant Mackinlay and Michelle Bennett, the ATO has increased the depth and breadth of its reviews in the context of applications to the Foreign Investment Review Board (FIRB).

The information required by FIRB is no longer (if it was ever) limited to the details of the transaction but extends to the provision of substantially more detail about the taxpayer group, third parties involved in the deal and more. This will include an analysis of all aspects of the group’s Australian tax affairs, compliance record and overall risk rating as outlined in its most recent Australian Taxation Office (ATO) guidance note. Given the detail and potential complexity of the ATO pro...

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Authors: Scott Farrell, Tony Mulveney,

Published Date: 08 February 2021