INTHEBLACK October/November 2024 - Magazine - Page 24
P O D C AS T
WITH INTEREST PODCAST
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The With Interest podcast features economic updates and developments
for the business world. Here are some highlights from a recent episode.
to the podcast
THE BOARD OF TAXATION EXPLAINED
The Board of Taxation advises the Australian Government on improving
the design and operation of tax policy from a business and tax
community perspective. Secretary and tax counsel Paul Korganow from
the Board of Taxation explains the board’s role and its key focus areas.
PAUL KORGANOW,
BOARD OF TAXATION
BRIDGING THE GAP
INFLUENCE ON BOARD REVIEWS
“The Ralph Review identified a lot of
frustration in the business community
about little and really not much opportunity
at all for the private sector to engage in
formal consultations with government
agencies responsible for developing tax
policy and law.
“To address the frustration in the
business community, the Howard
Government established a non-statutory
advisory body, the board, as a way to get
effective community input into the
development of tax policy and on a more
transparent, systematic and ongoing basis.”
“One of the biggest ways listeners can
influence what issues the board reviews
is to engage with us, [via] the ‘Sounding
Board +’ platform on our website or through
involvement in our consultation process,
whether that be formal reviews and other
targeted engagement.
“Sounding Board + is an online platform…
where stakeholders can basically upload
ideas directly to the board on how to reform
the tax system.
It provides members of the community
with a voice and an opportunity to be part
of the conversation around improving the
tax system in Australia.”
VOLUNTARY TAX
TRANSPARENCY CODE
STAKEHOLDER ENGAGEMENT
“It is a set of principles and minimum
standards to guide businesses as to the
types of tax information that should be
disclosed for them to be transparent
about how they pay tax.
“The code was developed for a multitude
of reasons, but primarily in response to
community concerns and expectations
for businesses, particularly large
multinationals, to take the lead to be
more transparent about their tax affairs.”
“We have launched a new and exciting
stakeholder engagement strategy.
We have looked at how we have engaged
in the past and thought how we can do
things better, and we are changing how
we interact with stakeholders, how we
gather ideas from them and gather a really
important intelligence.
“The goal here is to meet with stakeholder
groups that can provide a diverse range of
insights to support the board’s work.”
24 INTHEBLACK October/November 2024
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to the full
podcast episode
