OECD public consultation review of BEPS Action 13 (Country-by-Country Reporting)

Feb 10, 2020

 

The OECD /G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) has launched a public consultation to review BEPS Action 13 – Country-by-Country (CbC) Reporting. The BEPS Action 13 report requires that a review of the CbC reporting ‎minimum standard be completed by the end of 2020 (the 2020 review). 

 

Under CbC reporting Multinational Groups are required to provide tax authorities details of the group’s revenues, profit before tax, tax accrued and other information relevant to a high-level risk assessment, for each tax jurisdiction in which the MNE group has a constituent entity. 

 

The 2020 review will take into account matters including, whether modifications to the content of CbC reports should be made to require the reporting of additional or different data, the appropriateness of the applicable revenue threshold, the effectiveness of filing and dissemination mechanisms and the implementation of the BEPS Action 13 implementation package. 

 

The 2020 review contains three chapters seeking comments on topics concerning the implementation and operation of BEPS Action 13, the scope of CbC reporting and the content of a CbC report. The public consultation closes on Friday, 6 March 2020.