The cloud computing practice note Cloud computing and the Code of Professional Conduct outlines relevant factors for tax practitioners to consider when entering into cloud arrangements, as well as the consequences of having inadequate cloud arrangements. It also provides a useful listing of further reference information.
The chair of the TPB, Ian Taylor, said the practice note took into consideration the feedback received on an exposure draft released for stakeholder comment in October 2016.
“We are pleased to release the practice note to assist tax practitioners in understanding relevant obligations when operating in a cloud environment,” Mr Taylor said.
“The practice note provides practical assistance to tax practitioners, raising awareness of relevant considerations when entering into cloud arrangements and outlining where to find further information.”
Mr Taylor says further practice notes on other matters may be developed in the future “as part of the TPB’s commitment to providing practical assistance to tax practitioners in understanding their obligations”.