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Consultation Paper - Reform of the Controlled Foreign Company Rules


Friday, 16 July 2010

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On 16 July 2010, the Assistant Treasurer announced the release of a consultation paper entitled: Reform of the controlled foreign company rules.

This consultation paper provides details of the legislative design of reforms to modernise the controlled foreign company (CFC) rules. This paper follows on from the CFC consultation paper that was released in January of this year.

The reform of the CFC rules were announced in the 2009-10 Budget as part of wider reforms to Australia's foreign source income anti-tax deferral attribution rules.

Making a submission

Interested parties are invited to comment on the paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Tuesday, 31 August 2010

Address written submissions to:
International Tax Project Unit
International Tax and Treaties Division
The Treasury
Langton Crescent

Fax: (02) 6263 4352

Email: fsiattribution@treasury.gov.au

For enquiries, please call John Nagle (02) 6263 4461, Haydn Daw (02) 6263 2789 or Peter Peters (02) 6263 2969.

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Consultation Paper  312.36kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Consultation Paper  4,955.49kb

Related Items:

Submissions: Consultation Paper - Reform of the controlled foreign company rules - 9/11/2010

Treasury received twenty-seven submissions in response to its consultation paper on the legislative design for the reformed controlled foreign company (CFC) rules. Twenty-two of these are public submissions and five are confidential. The public submissions are listed below and are accessible by selecting the author.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

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