OECD Issues New Guidance for Country-by-Country Reporting Implementation : BEPS Action 13

UAE, 28 May, 2024 : The Organization for Economic Cooperation and Development 9OECD) has released additional guidance for the implementation of Country-by-Country Reporting.

Click link below to access the new guides - 

1.  Guidance on the Implementation of CbC Reporting

As jurisdictions transition into the implementation stage, questions of interpretation have surfaced. To ensure consistent implementation and provide certainty for both tax administrations and taxpayers, the Inclusive Framework on BEPS has issued guidance to address key questions. This guidance is periodically updated.

2.  Guidance on the Appropriate Use of Information Contained in CbC Reports

One of the conditions for receiving and using CbC Reports is that a jurisdiction must have the necessary framework and infrastructure to ensure the proper use of CbCR information. To help jurisdictions meet this condition, the OECD has released guidance on the meaning of "appropriate use," the consequences of failing to comply with this condition, and the methods tax authorities can use to ensure the proper use of CbCR information.

Source : www.oecd.org