Transfer pricing observations on the ATO Reportable Tax Position Schedule findings report

High risk arrangements appear to have fallen as a proportion of disclosures, but nonetheless maintain a notable presence based on the ATO’s latest statistics released. Could it be time for a refresh to some of the ATO’s Practical Compliance Guidelines?

The Australian Taxation Office (ATO) released its findings report on 12 November 2021 regarding taxpayers’ Category C disclosures in the Reportable Tax Position (RTP) Schedule. As context, the RTP Schedule is an attachment to the Income Tax Return that, broadly speaking, must be completed by taxpayers that are part of a group with Australian revenues of $250 million or more. Over the last few years, the RTP Schedule’s breadth has steadily increased, and the ATO has reported that the number ...

Sign in below or register now to read the full article

Authors: Tim Keeling, Onur Tekin

Published Date: 26 November 2021