ATO Provides Guidance on the Local File and Master File 2025

The Australian Taxation Office (ATO) recently published guidance on the local and master file for 2025, which relates to reporting periods starting from 1 January 2024. This includes the Local file instructions 2025, which are to be used when completing the 2025 local file as part of the country-by-country (CbC) reporting obligations, and the Local file/master file 2025, which provide a detailed description about the design and requirements of the local file and master file for 2025, as wel…