OECD further guidance on CbC reporting (BEPS Action 13)
Released 30 November 2017
The OECD Inclusive Framework on Base Erosion and Profit Shifting (IF on BEPS) has released updated guidance on CbC reporting (BEPS Action 13).
The Organisation for Economic Co-operation and Development (OECD) IF on BEPS has released additional guidance 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 additional guidance addresses a number of specific issues: how to report amounts taken from financial statements prepared using fair value accounting; how to treat a negative figure for accumulated earnings in Table 1; how to treat mergers/acquisitions/de-mergers; how to treat short accounting periods; and the definition of total consolidated group revenue. The complete set of guidance related to CbC reporting issued so far is presented in the document released. This will continue to be updated with any further guidance that may be agreed.
For more information, see: