Canadian parent companies of large multinational corporate groups need to consider developing their strategy to meet new country-by-country reporting requirements in 2016. The standards for these requirements, developed by the OECD, are intended to enhance tax transparency and to provide adequate information to conduct transfer pricing risk assessments.
This country-by-country reporting will be required for tax years beginning after 2015, with the first automatic exchanges of information between governments slated to begin by June 2018.
Read an April 2016 report prepared by the KPMG member firm in Canada: Canada to Implement Country-by-Country Reporting in 2016
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