Jersey opens consultation on Country by Country reporting

Jersey opens consultation on Country by Country

The consultation invites comments on the UK CbC draft regulations as an intended model for Jersey’s own.

Tax Management Consulting

KPMG in the UK


Also on

As part of their commitment to supporting the OECD’s base erosion and profit shifting (BEPS) project, Jersey has opened a consultation on the introduction of Country by Country (CbC) reporting to improve tax transparency between multinational entities and tax authorities, and to identify “aggressive tax avoidance”. The consultation has asked for opinions on the UK’s draft CbC regulations, as the intention is that Jersey’s own regulations will be closely based on these and on OECD model legislation.  The consultation also seeks views on the introduction of CbC for accounting periods beginning on or after 1 January 2017.

The proposed regulations would require multinational enterprises with parent entities resident in Jersey and with consolidated group revenue of £586 million or more in a 12-month accounting period (reduced proportionately for shorter periods) to file a CbC return annually with the Jersey tax authorities.

If no major issues are identified as part of the consultation process, then draft regulations will be presented to Ministers for consideration before being presented to the States of Jersey for approval.

The consultation can be found here, and comments are requested by 22 April 2016.

See more from Weekly Tax Matters

View KPMG's weekly newsletter covering the latest issues in taxation and government announcements relating to tax matters.

Read more

Connect with us


Request for proposal



KPMG’s new-look website

KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.