Country Reporting | KPMG | QM

Country-by-Country Reporting

Country-by-Country Reporting

Governments are implementing stricter measures and legislation.

Governments are implementing stricter measures and legislation.

The demand for greater transparency is changing the tax landscape for international businesses. Post the global financial crisis, media, lobby groups and non-government organisations began to question how much tax multinational companies were paying in the countries they operated in. As a result, new mandatory legislative requirements for Country-by-Country reports of financial tax data have being introduced, proving the OECD Base Erosion and Profit Shifting (BEPS) agenda and resulting Country-by-Country (CbC) Reporting is fast becoming a reality. 

Country by Country Reporting under Action 13 of the OECD BEPS Action Plan

Channel Islands

Work is ongoing at local country level to implement the OECD recommendations with regard to CbCR. Both Jersey or Guernsey are likely to introduce domestic legislation on CbCR and many of our clients that operate in the CI as part of wider international groups will need to comply with reporting obligations for those countries in which they operate that do implement CbCR. 

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