Review
In August 2024, the Treasurer tasked the Board with reviewing the Voluntary Tax Transparency Code (VTTC). The review includes how to:
- supplement policy developments in global tax transparency
- encourage best practice tax transparency reporting for business.
The Board set up a working group to undertake the review. The Board appointed members Andrew Mills and Andrea Laing to oversee this work.
The Board ran targeted consultation from August to October 2024. Stakeholders included:
- large business
- professional bodies
- investor and finance groups
- advisors
- academics
- civil society groups
- government bodies.
The Board concluded that the VTTC should be simplified and updated. This helps align with policy developments. The board started redesigning the VTTC in January 2025.
Consultation
You can give feedback on the draft redesigned VTTC and consultation guide.
Email your submission to the Board of Taxation Secretariat at TaxTransparency@taxboard.gov.au by 11 July 2025.
When the review finishes, we will publish all submissions on the Board’s website. This excludes submissions made confidentially.
The Board plans to hold targeted consultation meetings.
Background
In 2016, the Board of Taxation developed the VTTC.
Since then, the Australian and global tax transparency landscape has changed. The Board is following developments for Significant Global Entities including:
- public Country‑by‑Country reporting in Australia
- similar global tax transparency initiatives.
