Please see (attachment) our comments and recommendations submitted to Treasury in response to the recent announcement of Treasury's second phase of the transfer pricing reform process as announced by The Hon David Bradbury, MP, on November 22 2012 - (Exposure Draft – Tax Laws Amendment (Cross –Border Transfer Pricing) Bill 2013: Modernisation of transfer pricing rules).
We also note that we have previously provided detailed submissions in response to the earlier announced reform of Australia's transfer pricing legislation (and now enshrined as Subdivision 815-A of the Income Tax Assessment 1997).
Transfer pricing is viewed by multinational organisations as an area of substantive "risk" in the conduct of their business and an area that creates a substantial administrative burden with which they must deal.
Moore Stephens is acutely aware of the increasing administrative burden taxpayers confront, and The Exposure Draft, coupled with Subdivision 815-A, does little to assist taxpayers address both the "risk" and administrative burden to which we refer.
Attachments
Treasury Submission December 2012.pdf
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