ARTICLE · 22 DECEMBER 2016

New BEPS Guidance On Country-By-Country Reporting And Implementation

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New information on Country-by-Country reporting should give more certainty to tax administrations and multinationals on how to implement it.

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New information on Country-by-Country reporting should give more certainty to tax administrations and multinationals on how to implement it.

On 5 December 2016, the OECD released further guidance on Country-by-Country (CbC) reporting and country-specific information on implementation of the guidance. CbC reporting is linked to action point 13 in the Base Erosion and Profit Shifting (BEPS) initiative.

Background on BEPS

Base erosion and profit shifting are tax avoidance strategies mostly used to exploit loopholes within the tax/legal environment by shifting profits from one specific country to a country with low or no tax, where, in most cases, the company has no or little economic activity.

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