Navigating with agility

In today’s rapidly changing world, life sciences organisations need to be agile and proactively prepared to respond to the demands, needs and expectations of their stakeholders.

There is an increased focus on social and economic responsibility, demand for greater transparency and a myriad of complex compliance rules and regulations to navigate – both locally and globally.

This report, Tax Developments in Life Sciences: Navigating with Agility takes a close look at recent developments impacting organisations in the life sciences sector – from utilising incentives to develop and hold intellectual property in Australia, to ensuring that your organisation is prepared to engage with the taxation authorities which are resuming rollout of their audit and review programs.

Key highlights

This report compiles a series of articles from KPMG specialists that unpack how new regulation, governing frameworks and legislation will impact the life sciences sector:

  • Should you hold intellectual property and other intangible assets in Australia? 
  • Are you ready for the ATO to review your intangibles arrangements?
  • Effective tax governance in life sciences
  • Tax Controversy in Life Sciences
  • Payment Times Reporting Scheme 
  • International trade risk management: Adopting a global approach
  • What do the OECD’s BEPS 2.0 changes mean for the Australian life sciences sector?

A globally co-ordinated approach to minimising profit shifting to low-tax jurisdictions will reshape the future of global taxation for large multinationals.

Kelly Chong
Partner, Life Sciences – Tax, KPMG

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