The Australian Taxation Office (ATO) has recently shared details regarding the GST compliance risk areas it is focusing on with public groups and multinational enterprises (MNEs) during FY 2023-24 (i.e., the year ending 30 June 2024).
The ATO has shared these areas for the review activities it will be conducting, and has also advised that it is moving into its “Next Actions” campaign for those groups that were previously subject to some form of assurance review. The ATO has confirmed that it will be looking to those areas identified previously as “medium” and “high” risk. Where there has been little or no taxpayer action on previously identified risks, taxpayers can expect a more rigorous set of follow-up actions.
Source: taxathand.com
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