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  • Latest findings from reviews of Australia's largest public and multinational taxpayers

    We have recently published two reports focused on findings from assurance reviews of Australia's top 100 public and multinational taxpayers, and disclosures made through the Reportable tax position (RTP) schedule.

    The behaviour of the largest corporate taxpayers has a significant impact on the health of the tax system. Given the importance of these taxpayers to the overall system, we actively engage with them on an ongoing basis.

    The Top 100 findings report shows outcomes of our income tax and GST assurance reviews of top 100 taxpayers for 2020-21. The report shows a 20% increase in the number of top 100 taxpayers who have attained overall high assurance (justified trust) for income tax compared to our last findings report in 2020. We also outline the benefits to taxpayers of reaching high assurance, and areas that attract our attention.

    The RTP schedule requires taxpayers to make disclosures about uncertain tax positions and certain types of arrangements. The schedule plays an important role in our assurance work, as it aids in detecting and preventing high risk tax arrangements and tax avoidance schemes. The findings report shows high risk tax arrangements or arrangements of concern aren’t prevalent among large public and multinational businesses.

    The RTP schedule helps companies understand their tax risk profile across key system risks and highlights potential areas of dispute with us. The findings report will allow large companies to compare their risk ratings with that of their peers.

    Read our findings

    Last modified: 17 Nov 2021QC 67332