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Australia - PSM stands for Australia - Profit Shifting Measure. It is a measure introduced by the Australian government to prevent multinational companies from shifting profits offshore to avoid paying taxes in Australia.
Multinational companies operating in Australia and meeting certain criteria are required to file Australia - PSM.
Australia - PSM can be filled out electronically through the Australian Taxation Office (ATO) online portal. Companies need to provide detailed information about their financial activities and profits.
The purpose of Australia - PSM is to ensure that multinational companies pay their fair share of taxes in Australia by preventing profit shifting.
Companies need to report detailed financial information, including revenue, expenses, profits, and taxes paid in Australia and overseas.
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