In a recent Speech by Michael D’Ascenzo, Commissioner of Taxation, he identified tax risks for businesses and discussed:
- the new ATO Guide Bribes and facilitation payments: A guide to managing your tax obligations;
- The role of directors and board members in tax governance (including their own personal tax responsibilities);
- rights and options received under share schemes for both executives and general employees;
- ATO’s compliance program for large business;
- an initiative encouraging people to come forward and make disclosures of undisclosed income from offshore activities.