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07 September 2017

OECD releases further guidance on Country-by-Country Reporting

The Organisation for Economic Co-operation and Development's (OECD's) Inclusive Framework on Base Erosion and Profit Shifting (BEPS) released two sets of guidance on September 6, to give greater certainty to tax administrations and multinational enterprise (MNE) groups on the implementation and operation of Country-by-Country (CbC) Reporting (BEPS Action 13). The existing Guidance on the implementation of CbC Reporting (the Guidance) has been updated to addresses three new issues: (i) the definition of revenues (adding to the definition already provided in the April 2017 updated version of the Guidance); (ii) the treatment of MNE groups with a short accounting period; and (iii) the treatment of the amount of income tax accrued and income tax paid.

A Global Tax Alert, attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2017-1434

Document ID: 2017-1434

 
 

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