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Thomson Reuters Releases Special Report on OECD’s Country-by-Country Reporting Requirements

Thomson Reuters Checkpoint has just released a special report addressing the European Commission’s Anti-Tax Avoidance Package (ATA) and other global Country-by-Country Reporting (CbCR) developments designed in conformity with the OECD BEPS Action 13 recommendations. The report, BEPS Filing Requirements for Multinationals Under Country-by-Country Reporting, will help multinational enterprises (MNEs) gauge their readiness to collect and aggregate the data required under CbCR and will equip them with the latest CbCR information to navigate this complex, quickly evolving landscape.

On October 5, 2015, the Organisation for Economic Co-operation and Development (OECD) issued the final Base Erosion and Profit Shifting (BEPS) reports that are expected to fundamentally change the course of international taxation and transfer pricing for all MNEs. As countries implement some or all of the OECD BEPS recommendations into their domestic legislation, there will inevitably be shifts in tax policy, in addition to the transfer of resources and operations.

“Going forward, jurisdictions will need to continue to balance the need for transparency against compliance burdens and confidentiality concerns for businesses,” said Jessica Silbering-Meyer, managing editor, international tax with a focus on BEPS, within the Tax & Accounting business of Thomson Reuters.

“MNEs risk reputational damage and tax adjustments that can affect their future earnings if they do not heed this changing tax landscape,” added Robert Sledz, international editor/author with a focus on BEPS, within the Tax & Accounting business of Thomson Reuters.

This report looks at the European Commission’s Anti-Tax Avoidance Package as it relates to CbCR, the OECD’s CbCR Multilateral Competent Authority Agreement for the automatic exchange of CbCRs, the latest U.S. CbCR developments, and CbCR developments in 24 other jurisdictions.

The Thomson Reuters free special report is available for download at tax.thomsonreuters.com/beps/cbc-reporting-filing-requirements-for-multinationals.

For more updates on BEPS-related anti-tax avoidance developments, Thomson Reuters offers the following resources:

  • Thomson Reuters BEPS Solutions – providing analysis, videos, events and solutions on the OECD/G20 BEPS initiatives.
  • Thomson Reuters Checkpoint BEPS Global Currents – providing a comprehensive and customizable overview of the latest BEPS developments for all 15 Action items in 48 countries.
  • Thomson Reuters ONESOURCE BEPS Action Manager – combining research, data management, entity charting, document storage, reporting and analytics in a single solution.

Thomson Reuters Checkpoint integrates research, editorial insight, productivity tools, online learning and news updates along with intelligent links to related content and software. It is relied on by hundreds of thousands of tax and accounting professionals, 97 of the Top 100 U.S. law firms, 99 of the Fortune 100 companies, and all of the top 100 U.S. CPA firms.