Australia Updates Practical Compliance Guideline on Identifying Where a Company's Central Management and Control is Located

The Australian Taxation Office (ATO) has updated Practical Compliance Guideline (PCG) 2018/9, Central management and control test of residency: identifying where a company's central management and control is located. The update:

• extends the transitional compliance approach period for companies that are taking active and timely steps to change their governance arrangements in line with the approach;
• confirms the ATO's transitional and ongoing compliance approaches on penalties for failing to…