Navigating tax controversy in life sciences: Key imperatives
Navigating tax controversy in life sciences
Watch a short snapshot video from KPMG Director Kristie Schubert, where she shares insights on navigating tax audit, dispute and litigation matters, as well as her full presentation in the recording of our Life Sciences Tax Update webinar held on 28 August 2019.
The tax risk environment in which Life Sciences companies operate is ever changing, with tax authorities continually looking for new ways to engage with and risk assess taxpayers.
For taxpayers who find themselves in a review or audit with the ATO, it is imperative to:
- Establish a high level of communication with the ATO audit team
- Take a proactive approach to managing the process, including actively managing timeframes and stakeholders
- Meet obligations in a timely manner.
It is also important to remember that all cases turn on their own facts and issues, so every audit, dispute and litigation matter needs strategies that are tailor-made to ensure early objective and comprehensive assessment of the issues and evidence. This allows you to identify and seize key opportunities for advocacy during the process with a view to resolving the process as efficiently and effectively as possible.
View a copy of the slide presentation from the webinar.
Taxation in life sciences
Addressing key tax issues and challenges facing life sciences organisations in Australia.