One of the most contentious issues being considered as part of the OECD’s base erosion and profit shifting (BEPS) project is the notion of country-by-country reporting (CbCR) of multinational companies' tax information. Frank Schoeneborn, head of group operational transfer pricing in the finance and accounting division at Merck Group in Germany, steps forward in time to take a hypothetical look at the reporting standard five years after implementation.
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Pillar two might be top of mind for many multinational companies, but the huge variations between countries’ readiness means getting ahead of the game now, argues Russell Gammon, chief solutions officer at Tax Systems.