OECD releases further guidance on Country-by-Country reporting (BEPS Action 13)

Released 13 September 2018

The Organisation for Economic Co-operation and Development (OECD) Inclusive Framework on Base Erosion and Profit Shifting (BEPS) has released additional guidance on Country-by-Country reporting.

The additional interpretative guidance aims to give certainty to tax administrations and Multinational Enterprise (MNE) Groups alike on the implementation of Country-by-Country (CbC) Reporting (BEPS Action 13). The new guidance includes questions and answers on the treatment of dividends received and the number of employees to be reported in cases where an MNE uses proportional consolidation in preparing its consolidated financial statements, which apply prospectively. The updated guidance also clarifies that shortened amounts should not be used in completing Table 1 of a country-by-country report and contains a table that summarises existing interpretative guidance on the approach to be applied in cases of mergers, demergers and acquisitions. The complete set of guidance concerning the interpretation of BEPS Action 13 issued so far is presented in the document released.

View the new Guidance on Country-by-Country Reporting: BEPS Action 13.

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