Document ID: chunk:federal_register_of_legislation:C2006A00100:clause:1_8:p1
Version: federal_register_of_legislation:C2006A00100
Segment Type: clause
Provision Reference: sch 1 cl 8 (pt 1/3)
Character Range: 3977–6871

8  After Division 260 in Schedule 1
Insert:

Division 263—Mutual assistance in collection of foreign tax debts

Table of Subdivisions

263‑A Foreign revenue claims

Subdivision 263‑A—Foreign revenue claims

Guide to Subdivision 263‑A

263‑5  What this Subdivision is about

      This Subdivision can be activated if there is in force an agreement between Australia and a foreign country or territory that contains an article relating to assistance in collection of foreign tax debts.
      The Commissioner can collect from an entity an amount in respect of a tax debt that the person owes to such a country or territory or take action to conserve assets of the entity.
      The Commissioner is required to remit amounts collected to the foreign country or territory concerned.

Table of sections

Operative provisions

263‑10 Meaning of foreign revenue claim
263‑15 Requirements for foreign revenue claims
263‑20 Foreign Revenue Claims Register
263‑25 Registering claims
263‑30 When amount is due and payable
263‑35 Amending the Register
263‑40 Payment to competent authority

Operative provisions

263‑10  Meaning of foreign revenue claim

  A foreign revenue claim is a claim made to the Commissioner:
 (a) in accordance with an agreement (the international agreement) between Australia and:
 (i) a foreign country or a constituent part of a foreign country; or
 (ii) an overseas territory;
  (the overseas entity); and
 (b) for one or both of these purposes:
 (i) the recovery by the Commissioner of an amount from an entity (the debtor) in respect of taxes imposed otherwise than by an *Australian law (including any associated amounts);
 (ii) the conserving of assets for the purposes of a recovery of that kind.

263‑15  Requirements for foreign revenue claims

  A *foreign revenue claim must:
 (a) be made by or on behalf of an entity that is, under the relevant international agreement, the competent authority; and
 (b) be consistent with the provisions of that agreement; and
 (c) be made in the *approved form; and
 (d) specify the amount owed by the debtor in Australian currency (calculated as at the day the claim is made); and
 (e) be accompanied by a declaration by the competent authority stating that the claim fulfils the requirements of that agreement.

263‑20  Foreign Revenue Claims Register

 (1) The Commissioner must keep a register called the Foreign Revenue Claims Register (the Register).

 (2) The regulations may make provision in relation to the form in which the Register may be kept.

 (3) The register is not a legislative instrument.

263‑25  Registering claims

  If the Commissioner is satisfied that a *foreign revenue claim has been made in accordance with section 263‑15, the Commissioner must register the claim by entering particulars of it in the Register within 90 days after receiving the claim.

263‑30  When amount is due and payable