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25 March 2016

OECD releases Country-by-Country reporting XML Schema and related User Guide

The Organisation for Economic Co-operation and Development (OECD) released the standardized electronic format for the exchange of base erosion and profit shifting (BEPS) Country-by-Country (CbC) reports on March 22. The released material encompasses the CbC XML Schema and a User Guide. The XML (extensible markup language) Schema is a commonly used data structure for electronically holding and transmitting information. The User Guide explains the information required to be included in the CbC XML Schema. With this material, the OECD aims to facilitate a swift and uniform implementation of CbC reports. While the CBC XML Schema has been primarily designed for use by tax authorities, it can also be relied upon by taxpayers for transmitting the CbC report to their tax authorities, provided the used of the Schema is mandated domestically.

A Tax Alert prepared by Ernst & Young's Transfer Pricing group, and attached below, provides additional details.

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Document ID: 2016-0566

 
 

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