News Share

The Tax Hub

Daily Tax Newsletter

Australia

14 January 2022

Responsive image

ATO Reviewing Advance Pricing Arrangement Program

The Australian Taxation Office (ATO) has announced that it is undertaking a review of the advance pricing arrangement program in 2022, which will include an extensive consultation with taxpayers and advisors.

---

We are reviewing the advance pricing arrangement program

The advance pricing arrangement (APA) program provides a valuable service delivering certainty on your dealings with international related parties.

We remain committed to the APA service and always look for opportunities to improve, ensuring it aligns with our broader objectives and market guidance. As such, we will be undertaking a review of the program in 2022, primarily to focus on:

  • whether the APA product continues to be providing the right service for all taxpayers
  • assuring transfer pricing risk in the most efficient manner possible.

As part of the review, we will consider how to tailor the APA process to better align to risk and taxpayer behavioural indicators.

We already have a streamlined APA product for early engagement requests from the medium and emerging market, where a combined triage and APA review workshop is used with less intense work during the APA Application stage.

We are now exploring how to similarly tailor the APA experience across the full spectrum of potential risks encountered during an APA engagement.

The review will commence in early 2022. We expect to consult extensively with taxpayers and advisors as part of the process to understand:

  • the market perspectives of the APA product
  • why it is appealing
  • what arrangements / transactions are viewed as most desirable for an APA.

We will notify you when consultation opens.

More information:

Advance pricing arrangements

Powerful Tax Tools

NEW

FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.

NEW

Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.

NEW

Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.

NEW

Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.

NEW

Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.

NEW

OECD BEPS Project

Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.

NEW

Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.

NEW

Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

NEW

Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.

NEW

Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.

NEW

Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.

NEW

Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.

NEW

VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.

NEW

NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.

NEW

Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.

NEW

Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

Compare Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More