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13.3.3. Definition of Low-Tax Jurisdictions

The law does not define low-tax jurisdictions as such. Rather, it lists countries with tax systems broadly comparable to that of Australia’s and treats all other countries as "unlisted" countries for purposes of the CFC rules. The "listed countries" comprise the following 7 countries: Canada, France, Germany, Japan, New Zealand, the UK and the US. The effect of being considered as a "listed" or "unlisted" country is considered later on below.