How KPMG can help
Companies affected by the existing CBCR rules have often called on KPMG to help build and refine their CBCR processes to collecting, analyse and reporting their global data. With the advent of the new wave of CBCR regulations this need will only increase. However, forward-looking companies are not just focusing on process, but are also beginning to review and adjust their tax business models and policies. This way, they can ensure that they comply with the new rules and be proactive by, for example, avoiding unnecessary duplication or leveraging corporate communication opportunities.
Of course tax data management is a top priority. Being prepared in terms of systems, data and the reporting process itself is essential. KPMG’s Tax Transformation team has extensive experience designing and implementing data collection processes, including developing internal guidance manuals, designing the process, building controls, project managing and using technology solutions for both mandatory regimes and voluntary reporting. This includes implementing KPMG’s proprietary technology, KPMG LINK CBCR or other tools, which can be used for gathering, aggregating, analysing and reporting CBCR data. We have also been involved in the consultations with the OECD and national tax authorities and as a result have a deep understanding of the requirements. Take a look at some of our detailed suggestions in our ‘2x4 approach to country-by-country reporting’.
But there are also important strategic approaches that we are seeing businesses adopt in this area. A number of common themes are emerging:
With the increasing multiplicity of CBCR regulations it is important to have a clear picture of what is currently on the table. Whereas the OECD and EU CBCR initiatives follow largely the same course, the potential emergence of a new layer of public CBCR in the EU makes it even more important to differentiate between the two.
Who to contact
If you would like to hear more about how CBCR may affect your business and what you can do about it, please contact one of our core experts below or your local KPMG advisor.
UK & Global Lead of Tax Management Consulting
Partner, London, KPMG in the UK
Tel: +44 (0)20 7311 3287
Mob: +44 (0)7770 284481
Senior Tax Manager, KPMG in the UK
Tel: +44 117 9054769
Mob: +44 7920835521
Tax Principal, KPMG in the US
Tel: +1 202 533 5270
Mob: +1 202 744 8928
National Leader, International Tax
KPMG in the US
Tel: +1 202 533 3127
Mob: +1 301 980 0979
Tax Partner, KPMG in the US
Tel: +1 206 913 6697
Mob: +1 206 399 7413
Director, KPMG’s EU Tax Centre
Tel: +31 88 909 1465
Mob: +31 6 5119 7170