Australian Taxation Office

New or updated materials on ATO website, including:

OECD releases final BEPS Package

Overnight, the Organisation for Economic Cooperation and Development (OECD) released its package of reports to tackle Base Erosion and Profit Shifting (BEPS) covering all 15 of the BEPS action items, which largely completes the recommendation / consultation phase. As the OECD has acknowledged, further work is required on a handful of specific areas. For example, the multilateral instrument intended to implement many of the OECD’s proposed amendments to tax treaties and PE profit attribution (linked to Action 7). The 2015 BEPS deliverables will be presented to the G20 Finance Ministers when they meet in Lima, Peru on 8 October 2015. Links to key materials are provide below:

Hear feedback on the transfer pricing aspects of the BEPS package at PwC's webcast with Mike McDonald, Financial Economist at the US Treasury and US delegate to the OECD for transfer pricing issues. The webcast will take place on Thursday 8 October 2015 at 2am AEDT.Registration for this webcast is now open, and a recording will be available for playback after the event.

Customs and Trade

Prime Minister Malcolm Turnbull and Minister for Trade and Investment Andrew Robb have announced the conclusion of negotiations on the Trans-Pacific-Partnership Agreement.