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OECD Proposes Country-by-Country Reporting for BEPS Project

July 31, 2015

The OECD has proposed a plan for country-by-country reporting to make sure profits are taxed where the activity producing them occurs.

Under Action 13 of its Base Erosion and Profit Shifting (BEPS) project, the Organization for Economic Cooperation and Development (OECD) published its proposals for country by country (CbC) reporting. CbC reporting will aim to ensure that profits are taxed where economic activity generating the profits is performed and where value is created.

What does the CbC package contain?

The Country by Country reporting package contains (among other things):

  • Model legislation that countries can use to require the parent entity of a multinational enterprise (MNE) group to file the CbC report in its residence.
  • Three model competent authority agreements that could be used to facilitate the exchange of CbC reports.

For more details, read our article “OECD Outlines Plan for BEPS Reporting by Country”.

Questions? Contact any member of our Global Tax Services Group.

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