Does your organisation have a review and audit readiness strategy?
As patient treatment becomes more personalised, access to quality treatment data and information will be one of the key drivers of success in the life sciences sector. Similarly, access to adequate documentary and oral evidence which supports your organisation’s tax positions is key to a successful outcome in an Australian Tax Office (ATO) review, audit or dispute.
We’ve seen a heightened focus by the ATO on the life sciences sector, particularly pharmaceutical and medical devices, along with a surge in the number of information gathering notices issued in recent years and increased use by the ATO of its information access powers. Your organisation’s ability to respond with objective facts, evidence and sound technical arguments, along with proactive management of engagement with the ATO throughout the process, is fundamental to your review and audit readiness strategy.
© 2020 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Liability limited by a scheme approved under Professional Standards Legislation.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.