As published in the May edition of Tax Management International Journal
On 31 March 2023, the Australian government released draft legislation and an explanatory memorandum regarding a new anti-avoidance measure, which prevents large multinational enterprises from claiming tax deductions for payments relating to intangibles ‘‘connected with low corporate tax jurisdictions’’. Ethan Kroll and Simone Bridges discuss the mechanics of the new anti-avoidance measure and its implications in their article, A Hammer in a World of Nails: Australia’s New Anti-Avoidance Measure Targeting Payments for Intangibles (52 Tax Mgmt. Int’l J. No. 5 (5 May 2023).
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