On October 2, 2018 the Australian Government issued a discussion paper exploring options to move towards a fairer and more sustainable tax system for the digitalised economy. The Australian Government invites interested parties to comment on this consultation. Responses to the consultation can be submitted up until November 30, 2018.
The topics discussed in the discussion paper include a.o.:
· Digitalisation of the economy
o What is the digitalised economy?
o Impact of digitalisation on the economy
· The corporate tax framework
o Overview of the Australian corporate tax system
o Taxation of highly digitalised businesses in Australia
· Integrity of the Australian tax system
o The G20/OECD Base Erosion and Profit Shifting Project
o Australia’s actions beyond the BEPS Project
· International trends
o Increasing international pressure
o Should taxing rights change to reflect user-created value?
o Should taxing rights change to reflect value associated with intangibles?
o Potential changes to existing profit attribution rules
o Potential changes to existing nexus rules
o Can changes only apply to highly digitalised businesses?
o Options for broader reform
· Interim options
Click here to be forwarded to the discussion paper as issued on October 2 by the Australian Government.
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