From www.corrs.com.au: Multinational groups must manage tax risks associated with intangible assets, as governments, including the ATO, intensify scrutiny on these valuable, non-physical assets.

The ATO continues to prioritise audits of multinational taxpayers and has set forth guidelines that require thorough documentation to support intangible asset valuations and transactions.

Recent court cases, such as PepsiCo’s, highlight the complexities of tax obligations concerning royalties and transfer pricing of intangibles, indicating a rising focus on compliance and legal interpretations in this area.