Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 815 - Cross-border transfer pricing  

Subdivision 815-E - Reporting obligations for country by country reporting entities  

Operative provisions

SECTION 815-355   Requirement to give statements  

815-355(1)  
You must give to the Commissioner a statement of each of the kinds referred to in subsection (3), in the *approved form, in relation to an income year if:


(a) you were a *CBC reporting entity for a period that includes the whole or a part of the income year that preceded that income year; and


(b) you are, during that income year, any of the following:


(i) an Australian resident;

(ii) a resident trust estate for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 ;

(iii) a partnership that has at least one partner who is an Australian resident;

(iv) a foreign resident who operates an Australian permanent establishment (within the meaning of Part IVA of the Income Tax Assessment Act 1936 );

(v) a non-resident trust estate (within the meaning of section 102AAB of the Income Tax Assessment Act 1936 ) that operates an Australian permanent establishment (within the meaning of Part IVA of that Act);

(vi) a partnership that operates an Australian permanent establishment (within the meaning of that Part); and


(c) you are not exempted under section 815-365 from giving the statement; and


(d) you are not included in a class of entities prescribed by the regulations.

Note:

Under section 815-360 , the Commissioner may allow you to give statements in relation to a 12 month period other than an income year.

815-355(2)  
You must give the statement within 12 months after the end of the period to which it relates.

Note:

Section 388-55 in Schedule 1 to the Taxation Administration Act 1953 allows the Commissioner to defer the time for giving the statement.

815-355(3)  
The statements are to be of the following kinds:


(a) a statement relating to the global operations and activities, and the pricing policies relevant to transfer pricing, of:


(i) you; and

(ii) if you were a *member of a *CBC reporting group during the previous income year - the other members of that group;


(b) a statement relating to your operations, activities, dealings and transactions;


(c) a statement relating to the allocation between countries of the income and activities of, and taxes paid by:


(i) you; and

(ii) if subparagraph (a)(ii) applies - the other members of that group.
Note:

These statements correspond to the following in Annexes I, II and III to Chapter V set out in the Guidance on Transfer Pricing Documentation and Country-by-country Reporting of the Organisation for Economic Cooperation and Development and the G20:

  • (a) a statement under paragraph (a) corresponds to the master file (see Annexe I);
  • (b) a statement under paragraph (b) corresponds to the local file (see Annexe II);
  • (c) a statement under paragraph (c) corresponds to the country-by-country report (see Annexe III).

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