Country by Country reporting shows big progress

Sep 09, 2019

The OCED has released the outcomes of the second phase of peer reviews of the BEPS Action 13 Country by Country (CbC) reporting initiative. The report shows strong progress in efforts to improve the taxation of multinational enterprises (MNEs) worldwide.

CbC reporting requires tax administrations to collect and share detailed information on all large MNEs doing business in their country. Information collected includes the amount of revenue reported, profit before income tax, and income tax paid and accrued, as well as the stated capital, accumulated earnings, number of employees and tangible assets, broken down by jurisdiction.