The Australian Taxation Office has announced updates to Practical Compliance Guideline (PCG) 2017/2 on simplified transfer pricing record keeping options. The main changes include:
- There are now seven options instead of eight, with the management and administration option consolidated into the new low value adding intra-group services option, which aligns with the OECD’s simplified approach to low-value adding intra-group services dealings;
- The small taxpayers turnover threshold is increase…