On February 8, 2018 the OECD released an update of its Guidance on the Implementation of Country-by-Country Reporting - BEPS Action 13. On that same day the OECD also published a compilation of the approaches adopted by member jurisdictions of the Inclusive Framework with respect to issues where the guidance allows for alternative approaches.

 

Updated Guidance on the Implementation of CbC Reporting

The update of the  Guidance on the Implementation of Country-by-Country Reporting provides additional guidance on two specific issues:

·   the definition of total consolidated group revenue; and

·   whether non-compliance with the confidentiality, appropriate use and consistency conditions constitutes systemic failure.

 

The updated Guidance on the Implementation of Country-by-Country Reporting - BEPS Action 13 is available in the following languages: English, French and German.

 

Approaches adopted by member jurisdictions

The compilation of approaches adopted by member jurisdictions of the Inclusive Framework with respect to issues where the guidance allows for alternative approaches provides insight on what approaches certain jurisdictions have adopted with respect to the following issues:

·   Part IV - 2. Definition of total consolidated group revenue;

·   Part IV - 3. Short accounting period; and

·   Part VI - 1. Treatment in case of Mergers/Acquisitions/Demergers.

 

Click here to be forwarded to the compilation of approaches adopted by member jurisdictions of the Inclusive Framework with respect to issues where the guidance allows for alternative approaches as released by the OECD on February 8, 2018.

 

 

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