Please use this identifier to cite or link to this item: https://hdl.handle.net/2440/108071
Type: Journal article
Title: Tax collection, recovery and enforcement issues for insolvent entities
Author: Villios, S.
Citation: Australian Tax Forum: a journal of taxation policy, law and reform, 2016; 31(3):425-453
Publisher: Australian Tax Forum
Issue Date: 2016
ISSN: 0812-695X
Statement of
Responsibility: 
Sylvia Villios
Abstract: This article describes the ATO’s debt collection framework, including the number of debt collection strategies that the ATO has developed, giving particular attention to the position of a corporate tax debtor that is approaching insolvency within the ATO’s debt collection framework. In the context of a tax debtor that is approaching insolvency, it is evident that the manner in which the ATO administers the tax law has the potential to impact on the corporate tax debtor, as well as a number of other stakeholders. In the current economic climate, the ATO is most concerned about mitigating the risk to the revenue of non‑compliance and, more broadly, carefully managing its approach to debt collection to contain debt levels at acceptable limits. An analysis is made as to whether the ATO’s administrative practices are achieving the recognised tax policy criteria of fiscal adequacy, efficiency, equity and simplicity. This analysis highlights areas of weakness within the current ATO’s debt collection framework and the international experience is drawn on to discuss possibilities for future action. In order to successfully achieve the recognised tax policy criteria, a few themes will emerge in this article. These themes include the importance of early intervention, the early mandatory assessment of business viability, tax debtor engagement with the ATO and of striking the right balance of flexible delivery while fostering a positive compliance culture when administering the tax law.
Rights: © McGill University, Faculty of Law
Published version: https://search.informit.org/doi/10.3316/informit.401781203466163
Appears in Collections:Aurora harvest 8
Economics publications

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