Hugh Paynter is a partner in the Disputes practice of our associated law firm, Herbert Smith Freehills.
His full profile can be viewed on the Herbert Smith Freehills website.
Investigations & Disputes
The Full Federal Court has handed down its judgment in the Chevron case. Given that the hearing only began in late February, the omens were not good for the taxpayer – it doesn’t take long to write, ‘the taxpayer’s appeal is dismissed’.
Our comparison of the Australian and UK Diverted Profits Taxes reveals that in the majority of key areas, the Australian proposal is more onerous than the UK law.
The Diverted Profits Tax legislation is now before Parliament. Its broad and draconian application should concern foreign and domestic multinationals alike.
Diverted Profits Tax.pdf (256 kb)
The Government has introduced the Diverted Profits Tax Bill 2007 and the Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017 into Parliament to implement the Diverted Profits Tax (DPT).
Greenwoods & Herbert Smith Freehills, and Herbert Smith Freehills, have lodged a joint submission to The Treasury on the Diverted Profits Tax exposure draft legislation.