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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.
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Multinational companies operating in Australia and meeting certain criteria are required to file Australia - PSM.
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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.
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The purpose of Australia - PSM is to ensure that multinational companies pay their fair share of taxes in Australia by preventing profit shifting.
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Companies need to report detailed financial information, including revenue, expenses, profits, and taxes paid in Australia and overseas.
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