This content is from: Direct Tax

Impact of the OECD’s BEPS Project: The latest news in country-by-country reporting

Country-by-country reporting (CbCR) represents one of the biggest tax compliance and accounting changes that taxpayers must contend with in the post-BEPS environment. Are you prepared?

Join us on Tuesday February 23 at 17:00 GMT for a live webinar tracking all the latest CbCR developments from around the globe and ensure you are up-to-date with your compliance preparations.

Use this link to sign up to attend the one-hour web seminar, featuring Jeroen van Zanten, global head of capital markets and SPV at TMF Group, alongside guest speakers Joel Cooper and Randall Fox, who together lead DLA Piper’s international transfer pricing group.

CbCR requires multinational corporations to provide information on:

  •          the name of each country in which it operates;
  •          the names of all subsidiaries and affiliates in those countries;
  •          the financial performance of each subsidiary and affiliate;
  •          the tax charge in its accounts of each subsidiary and affiliate in each country;
  •          the cost and net book value of its fixed assets in each country; and
  •          its gross and net assets in each country.

The World Bank supports the increased disclosure of information under CbCR, saying the benefits outweigh the costs, while the OECD BEPS Project recommended CbCR as part of its final deliverables. Tax justice campaigners want this to go further and believe CbCR information should be made publicly available. The public element was not part of the OECD recommendations but the European Commission is analysing the benefits of public disclosure at the moment, having released the Anti-tax Avoidance Package (essentially its response to the BEPS Project) on January 28. With all of this in mind, CbCR is upon us. Its final form may not be crystal clear as yet, but change is certainly afoot for multinational tax departments.

Make sure you join our speakers on February 23 to stay on top of national responses to CbCR implementation and gain a deeper insight into the specific requirements laid out for highly-impacted jurisdictions.

Sign up here:

Further reading:

BEPS Special

Agreement on CbCR signed by 31 countries

Global agreement continues to expand international tax cooperation

Belgium unveils BEPS strategies

CbCR: Panacea or pipedream?

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