Australia issued an Exposure Draft for Multinational Tax Transparency Reporting last week to provide for global public country-by-country reporting for many large multinational enterprises (MNEs) operating in Australia. This includes the GloBE ETR.
Whilst it is subject to a consultation until April 28, 2023, it is planned to apply to financial years commencing from July 1, 2023.
The Exposure Draft proposes a new Section 3D in the Taxation Administration Act 1953 for the ‘Publication of information by certain country by country reporting entities’.
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