On 18 December 2017, the Australian Taxation Office (ATO) published a draft law companion guideline (LCG) 2017/D7 on Diverted profits tax (DPT) for public consultation.
The draft Guideline addresses Schedule 1 to the Treasury Laws Amendment Act 2017 which introduced 40% Diverted profits tax rate on artificially diverted profits from Australia by significant global entities (global revenue of AUD 1 billion or more).
The draft LCG has been released for public consultation. Submissions close on 16 February 2018.