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INCOME TAX ASSESSMENT ACT 1997 - SECT 815.355

Requirement to give statements

  (1)   You must give to the Commissioner a statement of each of the kinds referred to in subsection   (3), in the * approved form, in relation to an income year if:

  (a)   you were a * CBC reporting entity for a period that includes the whole or a part of the income year that preceded that income year; and

  (b)   you are, during that income year, any of the following:

  (i)   an Australian resident;

  (ii)   a resident trust estate for the purposes of Division   6 of Part   III of the Income Tax Assessment Act 1936 ;

  (iii)   a partnership that has at least one partner who is an Australian resident;

  (iv)   a foreign resident who operates an Australian permanent establishment (within the meaning of Part   IVA of the Income Tax Assessment Act 1936 );

  (v)   a non - resident trust estate (within the meaning of section   102AAB of the Income Tax Assessment Act 1936 ) that operates an Australian permanent establishment (within the meaning of Part   IVA of that Act);

  (vi)   a partnership that operates an Australian permanent establishment (within the meaning of that Part); and

  (c)   you are not exempted under section   815 - 365 from giving the statement; and

  (d)   you are not included in a class of entities prescribed by the regulations.

Note:   Under section   815 - 360, the Commissioner may allow you to give statements in relation to a 12 month period other than an income year.

  (2)   You must give the statement within 12 months after the end of the period to which it relates.

Note:   Section   388 - 55 in Schedule   1 to the Taxation Administration Act 1953 allows the Commissioner to defer the time for giving the statement.

  (3)   The statements are to be of the following kinds:

  (a)   a statement relating to the global operations and activities, and the pricing policies relevant to transfer pricing, of:

  (i)   you; and

  (ii)   if you are a * member of a * CBC reporting group during the income year--the other members of that group;

  (b)   a statement relating to your operations, activities, dealings and transactions;

  (c)   a statement relating to the allocation between countries of the income and activities of, and taxes paid by:

  (i)   you; and

  (ii)   if subparagraph   (a)(ii) applies--the other members of that group.

Note:   These statements correspond to the following in Annexes I, II and III to Chapter V set out in the Guidance on Transfer Pricing Documentation and Country - by - country Reporting of the Organisation for Economic Cooperation and Development and the G20:

(a)   a statement under paragraph   (a) corresponds to the master file (see Annexe I);

(b)   a statement under paragraph   (b) corresponds to the local file (see Annexe II);

(c)   a statement under paragraph   (c) corresponds to the country - by - country report (see Annexe III).


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