Country by Country Reporting

Country by Country Reporting

Revenue issue updated Frequently Asked Questions (“FAQ’s”)

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Country by Country Reporting

Irish Revenue ("Revenue") have released updated FAQs on their website which can be accessed here.

The most recent update of the FAQs contain new material in relation to three important areas.


The Irish regulations require certain notifications to be made to Revenue by 31 December 2016 (for groups with calendar year ends - i.e. the notifications must be made on or before the last day of the period to which the CbyC reporting obligation relates). The notification obligations in summary are as follows:

  • Where the ultimate parent entity of the group is tax resident in Ireland, then the ultimate parent entity must notify Revenue that it is the reporting entity;
  • Where a surrogate parent entity has been appointed by the group and that surrogate parent entity is tax resident in Ireland, then that surrogate parent entity must notify Revenue that it is the reporting entity (please see previous alerts for definition "surrogate parent");
  • All Irish resident subsidiaries of multinational groups must notify Revenue of the name and jurisdiction of tax residence of the reporting entity (i.e. the group entity filing a CbyC report for the entire group in another jurisdiction).

Revenue have now confirmed that the above notifications are to be made electronically via ROS (see FAQ 29).

A step by step guide to making CbyC Reporting notifications is included at Appendix III of the FAQs. These notifications can be filed by companies and by agents.

Voluntary, early filings by foreign resident parents

FAQ17 is a very helpful clarification in relation to this issue.

It is of particular relevance for US multinational groups. Although the US has introduced CbyC legislation, it is only effective for periods commencing on or after 30 June 2016. Because the Irish rules (and the rules in a number of other countries) are effective from 1 January 2016, this creates a mismatch which could have led to a requirement for US multinational groups to file multiple reports in a number of jurisdictions for 2016, or nominate a non-US surrogate parent.

In August 2016, the OECD recommended that countries with this mismatch should relax their rules if the ultimate parent voluntarily files early in its country (i.e. for calendar year 2016) which is aligned with OECD requirements. The IRS and Treasury have stated that US companies will be permitted to file a US CbyC report early in the US. Irish Revenue have now confirmed that where an ultimate parent of a multinational group files by CbyC report for 2016 on a voluntary basis in its country of residence, and provided a number of conditions are met, Irish resident subsidiaries will not have a secondary reporting requirement in Ireland for 2016.

Investment funds

There had been uncertainty in relation to the scope of CbyC reporting for investment funds and the scope of the investee entities of such funds that should form part of the fund's CbyC report.

FAQ21 clarifies this, with Revenue adopting an approach consistent with the OECD recommendation that investee entities should be included in the fund's CbyC report if that investee entity is consolidated with the fund for accounting purposes.

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