The Australian Taxation Office (ATO) has announced the formation of a working group to facilitate consultations on the implementation of the Pillar Two global minimum tax in Australia for multinational companies.
Applications to join this group are due by 9 August 2024.
Through consultation, the working group will seek feedback on administrative aspects of the implementation of this new measure, including:
- the design of 2 new Australian tax returns, keeping in mind domestic requirements for an approved form to enable assessment and collection of a Top-up Tax:
- Australian income inclusion rule and undertaxed profits rule tax return (AIUTR);
- Domestic minimum tax return (DMTR).
- the resources, systems and processes that multinational businesses are considering, or may already have in place, in response to the announced measure, including system builds and services provided by software designers;
- how we can support implementation through public advice and guidance, and co-designing client engagement approaches.
Membership requirements
If anyone becomes a member of the working group, ATO expects members to:
- bring relevant knowledge and expertise, either from their own experience or by canvassing members of the organisation they represent;
- maintain confidentiality and act in line with the ATO consultation framework;
- engage in good faith and respect the expertise and contributions of others;
- disclose matters that are or could be perceived to be conflicts of interest and take appropriate action to manage or mitigate those conflicts;
- sign an integrity declaration that includes agreeing to meet tax, super, and registry obligations.
