• 4. Advance Pricing Arrangements

    • Mark Konza provided members with information on the take-up of Advance Pricing Arrangements (APAs). Details include:
      • 171 APAs were in operation as at 30 June 2014
      • During 2013-14 :
        • 37 agreements were reached: 26 unilateral and 11 bilateral
        • 9 applications were declined or deferred
        • 1 application was withdrawn
         
      • Almost 80% of cases saw agreement reached
       
    • Mark informed members that APA procedures will be reviewed over the next year building on the lessons from early engagement for private rulings. The new guidelines will be principles-based and will emphasise the role of early engagement and ongoing management during the application process. Consultation on the new guidelines will commence soon.
    • The Commissioner confirmed the ATO’s ongoing commitment to the APA program.

    No.1

    Action item No.1

    01-110814

    Agenda item

    LBLG meeting – 11 August 2014

    Agenda topic

    Advance Pricing Arrangements

    Action item

    Report to LBLG members at a future meeting on the APA consultation process and outcomes.

    Responsibility

    Mark Konza, Deputy Commissioner, Public Groups and International

      Last modified: 21 Nov 2014QC 43202