ARTICLE · 28 NOVEMBER 2012

Transfer Pricing – Unfinished Business... Modernisation of transfer pricing rules

Moore Australia

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Federal Government has released a further Exposure Draft of proposed amendments to Australia's transfer pricing rules.

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On 22 November, 2012 the Federal Government released a further Exposure Draft of proposed amendments to Australia's transfer pricing rules.

This Exposure Draft forms Phase II of the proposed changes to Australia's transfer pricing rules.

The Exposure Draft is titled: Tax Laws Amendment (Cross-Border Transfer Pricing) Bill 2013: Modernisation of transfer pricing rules.

In many respects the new provisions have many similarities to Subdivision 815-A, given Royal Assent on 8 September, 2012 as part of Phase I of the reform process.

Subdivision 815-A will have a very short life as the new proposed provisions will have no operation from the date of implementation of the new subdivisions into our law. The new provisions will also replace Division 13.

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