Senate
Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017
Diverted Profits Tax Bill 2017
Revised Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Scott Morrison MP)This explanatory memorandum takes account of amendments made by the House of Representatives to the Bill as introduced.
Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
| 2015 Act | Tax Laws Amendment (Combating Multinational Tax Avoidance) Act 2015 |
| 2015 OECD Report | Aligning Transfer Pricing Outcomes with Value Creation, Actions 8-10 - 2015 Final Reports |
| ASIC | Australian Securities and Investments Commission |
| ATO | Australian Taxation Office |
| BEPS | Base Erosion and Profit Shifting |
| CbC | Country-by-Country |
| Commissioner | Commissioner of Taxation |
| DPT | Diverted profits tax |
| FTL | failure to lodge on time |
| GST | goods and services tax |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| OECD | Organisation for Economic Co-operation and Development |
| TAA 1953 | Taxation Administration Act 1953 |