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End of attention
We completed 53 APAs in the 2011 financial year, including:
- 23 renewals
- 14 new APAs encouraged by compliance activity
- 16 unprompted new APAs.
This is the program's largest number of completions in any one year. In part, the result was assisted by timely meetings with some of our treaty partners that enabled some applications to be finalised by year end. Nevertheless, in the last four years, we have experienced the three highest annual number of APA completions.
Both large businesses (with revenues of more than $250 million) and small-to-medium enterprises (SME) can request APAs. In 2010-11, 30 APAs were completed with large businesses and 23 APAs were completed with SMEs.
The completed APAs covered a wide range of related party inbound and outbound dealings including:
- tangible goods for personal consumption and as business inputs
- business and management services
- IT software and hardware sales and services
- mineral exports
- licensing of trade, and marketing intangibles and software
- financial services
- contract manufacturing and research and development (R&D).
The dealings were undertaken by:
- distributor and marketers
- service providers
- intellectual property (IP) owners
- financial services companies.
About 80% of the completed APAs dealt with an import of goods, services or IP.