By 2023, Australia plans to expand its existing network of 45 bilateral tax treaties according to Australian Treasurer Josh Frydenberg.
The government is looking into expanding its bilateral tax treaty network with 10 new countries as part of a wider plan to help support Australian businesses recover financially.
As a result the treaty will cover 80 per cent of foreign investment in Australia. Tax treaty negotiations are already underway with India, Luxembourg, and Iceland while more negotiations with Greece, Portugal, and Slovenia are scheduled for next year.
To help move the treaty agreement forward, submissions from stakeholders are sought from 16 September 2021 to 31 October 2021. Interested parties are invited to comment on this consultation.
Details of Australia’s existing tax treaties are available on the Treasury website.
While submissions may be lodged electronically or by post, electronic lodgement is preferred, sent via email in a Word or RTF format. An additional PDF version may also be submitted.
All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
To submit via email: RGCITDTaxTreatiesBranch@TREASURY.GOV.AU
For written submissions post your letter to:
Tax Treaties Branch
Corporate and International Tax Division
Treasury
Langton Cres
Parkes ACT 2600