Australia: Transfer pricing record-keeping options | KPMG | GLOBAL

Australia: Simplified transfer pricing record-keeping options

Australia: Transfer pricing record-keeping options

The Australian Taxation Office (ATO) recently released guidelines that simplify transfer pricing record-keeping options to reduce the Australian transfer pricing documentation compliance burden for certain taxpayers and international related-party dealings.

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The guidance allows small taxpayers (less than $25 million in revenue), distributors (less than $50 million in revenue) and taxpayers with a low materiality of international related-party dealings (in particular, intra-group services and cross-border loans) to apply the simplified transfer pricing record-keeping options, subject to meeting some eligibility criteria. 

The options may afford taxpayers subject to country-by-country reporting obligations a partial exemption from ATO’s local file.

 

Read an April 2017 report prepared by the KPMG member firm in Australia

$ = Australian dollar

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