House of Representatives

Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013

Explanatory Memorandum

(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)


The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
CFC Controlled Foreign Company
Commissioner Commissioner of Taxation
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1953 International Tax Agreements Act 1953
ITAA 1997 Income Tax Assessment Act 1997
IT(TP) Act 1997 Income Tax (Transitional Provisions) Act 1997
OECD Organisation for Economic Cooperation and Development
OECD Guidelines OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations as approved by the Council of the OECD and last amended on 22 July 2010
PE permanent establishment
TAA 1953 Taxation Administration Act 1953

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