Multinationals: contact us by 31 March
There are three weeks left to notify us if you think your arrangements may be within the scope of the Multinational Anti-Avoidance Law (MAAL).
If you meet the definition of a significant global entity and are potentially impacted by the MAAL, you need to engage with us by 31 March 2016. You can contact us at MAAL@ato.gov.au
If you do not engage with us by 31 March 2016, the MAAL increased penalties for significant global entities may apply to you. The provisions double the penalty for any scheme shortfall amount.
To help you consider your position:
Combating multinational tax avoidance - a targeted anti-avoidance law
Combating multinational tax avoidance – stronger penalties
You have until 31 March 2016 to notify us if think your arrangements may be within the scope of the Multinational Anti-Avoidance Law (MAAL).