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Stakeholders and Positions (Community (Fair, just and equal application of…
Stakeholders and Positions
Tax and Legal Professionals
Right to minimize tax
Unfairly targeting small businesses and wealthy Australians
Unduly and unfairly targeting the work of tax/legal professionals
Right to professional priviledge
Right to consultation
Clients right to compete
Business
Perceived right to minimization schemes
Right to Access roll-overs and exemptions to minimize taxation effects
Right to legally structure businesses
Changes could reduce loopholes and thereby reduce profit margins
Right to operate in and earn from foreign jurisdictions
Foreign Jurisdictions
Loss of tax jurisdiction over permanent establishment and BEPS
Lost/increased GDP and tax revenue from correct/appropriate taxation
International approach necessary to strengthen domestic policy regarding BEPS
EU unwilling to wait for OECD forum - new policies and laws enacted
USA and South America unwilling to legislate/participate
Community
Fair, just and equal application of taxation expected
Regulating expectations from different sub-communities
Percieved rights to avoid tax where possible
Cultures effect on taxation
Revenue raised from Tax essential to delivery of public services
Perception that large corporate entities are illegally tax evading and the Tax Office is not addressing the issue
Perception that small business is unfairly targeted by the applicaiton of the law compared with large corporate entities
Australian Government/Legislators
Potential increase to tax revenue and GDP
effect of tax treaties and trade agreements on domestic policy
Compliance issues where legitimate evasion is enabled
Regulatory Bodies
Enable regulation of BEPS
Enable tracking of resistant compilers
Ability to measure legal minimization in comparison with illegal evasion
Increased administration costs
Increased legislative complexity
Potential complications within administration