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In order to deter aggressive tax planning, the Australian government mandated public disclosure of three line items from large corporations' tax returns. However, there is no evidence that the mandated disclosure led public firms to pay more taxes (Hoopes, Robinson, and Slemrod 2018). Instead, I find that firms strategically offset expected reputational costs by voluntarily issuing supplemental information. Specifically, when managers expect new reputational costs from the mandated tax return disclosure (wherein the disclosure reveals an unexpectedly low tax liability) and low proprietary costs from a supplemental voluntary disclosure (wherein the firm discloses its nonaggressive tax planning), firms are likely to voluntarily disclose information that both preempts and supplements the government's mandatory disclosure. Thus, when mandatory disclosures are incomplete, firms will voluntarily issue additional information to remain in control of their disclosure environments. [ABSTRACT FROM AUTHOR]

The article informs that "patent box" is a generic term for regimes that apply a concessional tax rate to profits derived from eligible intellectual property. Topics include jurisdictions have patent boxes or other similar concessional tax regimes; and explores the proposed introduction of a patent box in Australia, including how such a tax regime will likely interact with the existing research and development tax incentive.

The article offers information on the practical considerations associated with the foreign businesses in Australia. It mentions the practical considerations that will need to be addressed before commencing business in Australia, such as choosing and setting up the appropriate structure, obtaining business and tax registrations, determining reporting obligations, and dealing with international tax obligations.

A diverted profits tax was proposed by the federal government in the 2016-17 Budget. A multinational anti-avoidance law (MAAL) was enacted in late 2015. Both the MAAL and the diverted profits tax focus on multinationals that derive $1b or more in group income. The diverted profits tax is proposed to be applicable for income years following 1 July 2017, but to arrangements whenever they were entered into. This means that the development of the diverted profits tax should be closely monitored and risk mitigation should be considered. This article compares the MAAL and the diverted profits tax to demonstrate where they intersect and the differences between them, and to highlight how these regimes provide a new framework for multinational taxation in Australia. The article also considers example structures to demonstrate where the MAAL and proposed diverted pr ofits tax pr ovide the ATO with two additional avenues to attack structur es which concer n it. [ABSTRACT FROM AUTHOR]

The article offers information on the corporate collective investment vehicle (CCIV) and regulatory framework for a limited partnership collective investment vehicle. Topics discussed include releasing the exposure draft of the CCIV legislation by Treasury under Ch 7A of the Corporations Act 2001; providing certainty of governance and authority; and facilitation of migration to CCIV.

The article reports on important federal tax developments that have occurred in Australia in June 2013. A statutory definition of charity was included in the Charities Bill 2013, which was introduced into parliament on May 29, 2013. Parliament has received the Tax Laws Amendment aimed at improving the transparency of tax payable by large corporations. An interpretative decision was issued on work-related travel.

Part I of this article was published in the previous edition of this Journal and addressed liability under the director penalty notice provisions of the Income Tax Assessment Act 1936 (Cth). Part II reviews the liability of directors to indemnify the Commissioner of Taxation in a winding up where an unfair preference constituting certain taxation payments is repaid to a liquidator by the Commissioner, for insolvent trading for unsatisfied taxation debts and for being knowingly involved in or concerned in taxation offences for the non-payment of company tax, such as income tax or GST As a company nears insolvency, the personal liability of a director for corporate taxation obligations escalates significantly. [ABSTRACT FROM AUTHOR]

The article reports on the enactment of legislation for OECD's multilateral instrument (MLI), hybrid mistmatch rules, company tax rate reduction and cross-border financing, and managed investment trusts (MITs) and stapled structures in Australia. Topics discussed include tax developments for inbound and outbound investments, the Base Erosion and Profit Sharing (BEPS) Action Plan, and integrity measures for MITs legislation.

An interview with the ATL009 Corporate Tax dux Dean Ixer is presented. Topics discussed include the valuable aspect of ATL009 Corporate Tax involving course on legal research and navigating the AustLII/ ComLaw databases; research in areas of tax; and educational qualification in Australian tax involving chartered tax adviser along with graduate diploma qualification.

The article discusses Australia's tax policies to deal with tax evasion by multinational enterprises (MNEs) such as Facebook and Microsoft. It discusses implementation of Multinational Anti-Avoidance Law (MAAL), diverted profits tax (DPT) rules and an inquiry into MNEs' corporate tax avoidance. Topics include structural changes by MNEs to comply with Australian law and comments by Adrian O'Shannessy and Facebook's tax and treasury vice president Ted Price.

The article discusses the mining firm Rio Tinto has challenged the Australian tax bill. It mentions the Australian Taxation Office (ATO) has issued tax assessments to multinational companies in alleged unpaid taxes; and the mentions the profit of companies to be attributed under Organisation for Economic Co-operation & Development (OECD) transfer pricing rules to a marketing and distribution function in the supply chain. It also presents views of politician Scott Morrison, on the tax bill.

Focuses on the introduction of indirect taxes in France, Australia and India. Discussion on value-added tax; Presentation of tax incentives for the European Union inward investment; Information on corporate tax laws.

The article offers the author's insights on the success of the Corporate Tax Retreat held at the Sanctuary Cove in Gold Coast, Queensland in 2014 and the importance of a realistic approach in complex tax law administration. Topics discussed by the author include the importance of the Australian Taxation Office's (ATO's) tax law administration, the issue on tax standards by financial planners, and the annual pay as you go (PAYG) instalment notices.

This section offers news briefs on important tax developments that have occurred in Australia in June 2013. A statutory definition of charity was included in the Charities Bill 2013, which was introduced into parliament on May 29, 2013. Parliament has received the Tax Laws Amendment aimed at improving the transparency of tax payable by large corporations. An interpretative decision was issued on work-related travel.