The Australian Taxation Office issued updated instructions for its staff working on advance pricing agreements with companies hoping to get certainty for their tax positions.
The ATO released the updated guide Wednesday with improved language on processes and governance following a review of the program in 2023.
APAs let taxpayers work with the government to get pre-approval for tax positions they have yet to make and avoid future tax disputes.
- The 2023 review found the ATO should re-shift the focus of APAs to transfer pricing issues, clarify and address inconsistencies in entry criteria, and outline how to address collateral issues. ...