International Tax Review: Australia gives taxpayers tight deadline for public CbCR bill

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Written By Toby Quantrill

Australia looks set to amend its country-by-country reporting rules to gather more tax data on multinational companies and make global information publicly available.

Stakeholders now have just over two weeks to comment on the proposal to make CbCR public. The Australian Treasury opened a three-week public consultation after publishing the draft bill last Thursday, April 6.

Jason Ward, principal analyst at CICTAR in Australia, said: “This move will increase transparency and accountability and shine a bright light on where and how multinationals shift profits.

“Exposure of current practices will encourage an end to abusive tax schemes everywhere,” he added.

Prime Minister Anthony Albanese won the 2022 federal election partly on a platform to introduce greater tax transparency in Australia.

Toby Quantrill
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