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Australia: Cross-border recovery of tax debts
Australia: Cross-border recovery of tax debts
An update from the Australian Taxation Office (ATO) reflects the ongoing expansion of global cooperation regarding the administration and collection of tax.
The ATO’s update to Law Administration Practice Statement PS LA 2011/13 (15 August 2019) outlines the options available to ATO personnel for the recovery of tax-related liabilities when the person who owes the tax liability is outside Australia (the debtor). The update also addresses the ATO’s responsibilities for recovering debts on behalf of foreign tax regulators.
Guidance is provided regarding the following debt recovery options:
- The domestic tax law provisions that empower recovery of tax debts (such as issuing garnishee notices to third parties who owe money to the debtor)
- The authority of liquidators and trustees in bankruptcy to pursue investigations in foreign jurisdictions as to the debtor’s assets in those jurisdictions
- The ability to seek assistance from other jurisdictions under Australia’s bilateral treaties and the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Multilateral Convention)
- The mechanisms in place to seek enforcement of debts in a foreign state (and vice versa)
Read an August 2019 report prepared by the KPMG member firm in Australia
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.
