Day 1 @ 14:30

Pillar Two, CbC and Public CbC Reporting: Don't Get Caught Out

A small Australian subsidiary with a handful of staff can still be a Significant Global Entity, because the test looks at the worldwide group, not the local entity. Many clients don't know this, and the penalties for failing to lodge can exceed $825,000. This session explains why so many smaller Australian subsidiaries of global groups are caught by CbC reporting, the Local File, Master File and General Purpose Financial Statement requirements. It covers the new public CbC reporting regime, which now requires in-scope groups to publish tax information that will appear on a public ATO register. It also covers what Pillar Two's 15% global minimum tax and the new Australian lodgements mean for groups over €750 million. You'll leave knowing exactly which clients to flag and what to tell them.

Key takeaways

• The SGE test: why a group with A$1 billion or more in global income catches its small local entities
• CbC lodgements, deadlines and the penalty exposure
• Public CbC reporting: who is in scope (A$10 million or more in Australian turnover), what must be published, and the reputational risk of getting it wrong
• Pillar Two in Australia: who is in scope and the GloBE and domestic minimum tax returns now due
• A quick client checklist to run before the next lodgement season

Hong Chuan Tan, Partner, Transfer Pricing Solutions

×

Hong Chuan Tan / Pillar Two, CbC and Public CbC Reporting: Don't Get Caught Out

Hong Chuan Tan, Partner,
Transfer Pricing Solutions

Hong Chuan (HC) Tan is a Partner at Transfer Pricing Solutions Australia. He advises multinational groups and their accountants on transfer pricing and international tax matters. With more than a decade of experience, Hong Chuan helps businesses and their advisers manage their international...

Close