OECD

UK Income and Corporation Tax: update to definition of transfer pricing guidelines

Posted on Updated on

Source: HMRC Policy Paper 6 March 2018 Read the rest of this entry »

Advertisements

OECD announces further guidance on the implementation of CbC Reporting

Posted on Updated on

Read the rest of this entry »

BEPS Action 13: Jurisdictions implement final regulations for first filings of CbC Reports

Posted on

Source: OECD Press Release 21 December 2017

21/12/2017 – Today, a further important step was taken to implement Country-by-Country (CbC) Reporting in accordance with the BEPS Action 13 minimum standard, through activations of automatic exchange relationships under the Multilateral Competent Authority Agreement on the Exchange of CbC Reports (“the CbC MCAA”).

The automatic exchange of Country-by-Country Reports which is set to start in June 2018 will give tax administrations around the world access to key information on the annual income and profits, as well as the capital, employees and activities of Multinational Enterprise Groups that are active within their jurisdictions.

With more than six months before the first exchange deadline, there are now over 1400 automatic exchange relationships in place among jurisdictions committed to exchanging CbC Reports as of mid-2018, including those under EU Council Directive 2016/881/EU and bilateral competent authority agreements (including 31 with the United States).

OECD Press Release here

 

“OECD Forum on Tax Administration issues handbooks to address implementation and use of CbC reports”

Posted on

Source: Deloitte Global Transfer Pricing Alert 2017-044, 18 October 2017

This is a useful Deloitte summary of two recent OECD handbooks –

Country-by-Country Reporting: Handbook on Effective Implementation and

Country-by- Country Reporting: Handbook on Effective Tax Risk Assessment.

These handbooks are meant to assist tax authorities to use the information received through the exchange of country-by- country information within their tax risk assessment framework.