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TPB invites submissions on draft outsourcing and offshoring guidance for tax practitioners

Monday, August 28, 2017

TPB invites submissions on draft outsourcing and offshoring guidance for tax practitioners

The Tax Practitioners Board (TPB) invites comment on a draft practice note which aims to assist registered tax practitioners understand obligations under the Code of Professional Conduct (Code) in relation to the use of outsourcing and offshoring.

Chair of the TPB, Mr Ian Taylor said: ‘Offshoring and outsourcing services to third parties is of increasing significance to the tax profession and we welcome comments on the exposure draft from tax practitioners and other interested stakeholders.’

‘The TPB has developed this practice note to assist tax practitioners to understand their obligations under the Code, raising awareness of relevant considerations when entering into arrangements involving outsourcing and offshoring and providing a consolidated listing of further reference information,’ Mr Taylor said.

Mr Taylor said the TPB will consider all submissions and undertake further consultation before finalising the practice note.

The exposure draft is available on the TPB website and the closing date for submissions is 12 October 2017. Written submissions can be made via email at tpbsubmissions [at] tpb.gov.au or by mail to:

Tax Practitioners Board

GPO Box 1620

SYDNEY NSW 2001

When finalised, this exposure draft will be the second practice note developed by the TPB. It follows publication of a practice note on Cloud computing and the Code of Professional Conduct in January 2017, as part of the TPB's commitment to providing practical assistance to tax practitioners in understanding their obligations.
 

About the Tax Practitioners Board:

The Tax Practitioners Board regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct.

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