Australia Publishes Final Practical Compliance Guideline on Diverted Profits Tax and Law Companion Ruling

The Australian Taxation Office (ATO) has announced the publication of the final Practical Compliance Guideline (PCG) 2018/5 on Diverted Profits Tax, as well as the related Law Companion Ruling (LCR) 2018/6. The Diverted Profits Tax (DPT) applies for income years beginning on or after 1 July 2017 at a rate of 40% on profits that have been artificially diverted from Australia by significant global entities ({News-2017-03-29/A/2-previous coverage}).

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Diverted profits tax guidance publis…