Australia’s largest casino operator is facing enforcement action from the Australian Transaction Reports and Analysis Centre (AUSTRAC) following a 12-month review of its compliance controls that began in September 2019.
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Global Reporting & Compliance Posts
Afterpay escapes enforcement action over millions of ‘technical’ AML breaches
Australian fintech giant Afterpay has escaped formal enforcement action over millions of “technical” breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
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New corporate residency test: Board of Taxation releases report
The Board of Taxation released its report Review of Corporate Tax Residency on 6 October 2020. The report was completed in July 2020.
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Automating Tax Provision: the power of technology
Let’s start with this question: “How much do we
owe?”. It may be a simple question, but the answer
is not. For corporate tax professionals, an extensive
amount of work is devoted to that one figure.
PayPal battens down hatches, as AUSTRAC lines up next targets
International payments titan PayPal Holdings is ramping up its compliance remediation work as the Australian anti-money laundering regulator considers its next major enforcement targets.
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Westpac agrees to $1.3bn penalty for AML/CTF breaches
Westpac and AUSTRAC have agreed to a $1.3bn penalty for over 23 million alleged breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The proposed penalty and…
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Tips, Tricks, and Best Practices to Closing the Quarter from Home
The Covid-19 crisis could not have come at a worse time for corporate tax professionals. As if grappling with the quarter close and looming tax season weren’t enough, working remotely presents its own unique challenges.
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Are you correctly reporting your GST? Automated answers to ATO reviews
Here Peter Schotter and Simmone Cottom, product specialists at Thomson Reuters address the risks of incorrect GST reporting in a recent Indirect Tax webinar in the new series, Key Challenges: Answered.
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How to Keep Up With New Complexities in Tax
Pressures on the tax function are everywhere, and they are growing in number and intensity. Here’s how tax professionals should respond.
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How to Future-Proof Your Indirect Tax Team
It’s time to shift your indirect tax team from survival mode to a proactive and strategic way of doing business. This white paper will show you how.
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