A wider group of stakeholders will know more about any wrangle a bank or other corporate has with the Australian Taxation Office, thanks to a newly released interpretation that forces disclosures of what a company might have to pay the ATO if they lose.It is an interpretation that comes at a time when Australia is in the midst of a long-term debate over corporate tax evasion and tax debt transparency.The interpretation, which will be effective in under 18 months (but with early adoption encouraged) has also been welcomed by the corporate regulator, the Australian Securities and Investments Commission and the ATO.The Tax Office flagged that it will be looking at the quality of tax disclosures in company accounts, also an interest of ASIC.Accounting standard setter Kris Peach - the current chair of the Australian Accounting Standards Board - says the newly released document places emphasis on the probability of a company having to cough up coin in the event the Tax Office is victorious in a dispute."The probability threshold is now being applied at an earlier point and could result in more tax liabilities being recognised," Peach said. "Previously, a tax liability was only recognised if the directors assessed it was probable that the entity would be required to pay additional tax."This means that you need to assess probability at the point of determining your tax liability.A joint media release on the issue provides some hints as to what the Tax Office expects companies to bear in mind when considering the probability of throwing dollars in Treasury coffers. The ATO flagged some indicators that could result in companies reassessing their chances of victory against Commissioner Jordan's troops. "In applying the new rules, companies should have regard to ATO public guidance as to what we are likely to dispute, as well as to the ATO's success in disputed matters in determining the likely resolution when we do dispute," said Jeremy Hirschhorn, a deputy commissioner at the ATO. "When companies are in doubt as to their tax positions, we strongly encourage them to engage with us to obtain certainty rather than be exposed to significant uncertain positions, which rarely improve with time."The corporate regulator is also tightening the screws on company boards and their top executives by flagging that reporting on taxes is going to be a focus for the corporate regulator during its financial reporting surveillance program.The interpretation adds another document to the already heavy weighty of material accounting policy types in banks must factor into their planning when putting together checklists on the issues needing disclosure to shareholders and other stakeholders.