Tax Commissioner identifies business tax risks

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.
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