An EU perspective.
Tax transparency is here to stay. A combination of public pressure and political willpower at both the G20/OECD and European Union (EU) levels has resulted in a paradigm shift in the global tax landscape. While many of the details are still being worked out and new initiatives are still appearing on the horizon, taxpayers are beginning to adjust, or at least recognize the need to adjust their tax business models and policies.
Companies that are on top of the changes before they occur will be best placed to ride out the waves of new rules and procedures. For those companies this new tax world represents not only obstacles to overcome but also opportunities to grasp. For example, competitive edge, compliance burdens and public image can either be enhanced or suffer, depending on the choices made.
This report, which provides step-by-step comparative guidance to the EU country-by-country reporting (CBCR) initiatives, does not pretend to be a complete answer to all or even any of the above, but may provide some useful insights to better enable businesses to respond to the changes that are being made to the international tax playing field. KPMG member firms have strong credentials when it comes to helping clients manage their country-by-country reporting.
If you haven’t done so already, do contact one of our core experts listed at the end of this paper to find out how KPMG can help you.
Please click here to read the abbreviated version.
Please click here to read the full version.
For more on EU country-by-country reporting visit our dedicated web pages.