Tax Commissioner identifies business tax risks

In a recent Speech by Michael D’Ascenzo, Commissioner of Taxation, he identified tax risks for businesses and discussed:

• the new ATO Guide Bribes and facilitation payments: A guide to managing your tax obligations;
• The role of directors and board members in tax governance (including their own personal tax responsibilities);
• rights and options received under share schemes for both executives and general employees;
• ATO's compliance program for large business;
  
• an initiative encouraging people to come forward and make disclosures of undisclosed income from offshore activities.