Australia cbc statements due 15 february | KPMG | GLOBAL

Australia: ATO grants extension of time to file country-by-country statements

Australia extends time for filing CbC statements

The Australia Taxation Office (ATO) today announced it has extended the due date for filing country-by-country (CbC) statements until 15 February 2018.

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The due date for filing CbC statements for the first reporting year was established as 31 December 2017. 

The ATO on 23 November 2017 granted an extension of time to file CbC statements. Under this extended period, for the first reporting year, "December balancers" will have until 15 February 2018 to lodge (file) their CbC statements, consisting of the CbC report, the Master file, and the Local file (as applicable under the law). 

ATO officials report they are currently working to make certain this deferred due date is reflected in their systems. However, taxpayers that receive an auto-generated letter regarding their CbC statements are being advised by the ATO to disregard it. Failure-to-lodge (failure-to-file) penalties will not apply to statements that are filed by 15 February 2018.

 

For more information, contact a tax professional with KPMG’s Global Transfer Pricing Services group in Australia:

Jane Rolfe | +61 3 9288 6341 | janerolfe@kpmg.com.au

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