CbC report contains financial information pertaining to global allocations of revenue, profit, taxes, etc. within the members of large multinational groups spread across various tax jurisdictions. It aims at empowering the tax authorities to conduct robust and effective risk assessments. The said information is to be exchanged between jurisdictions where the multinational group has taxable presence.
Our publication “Action 13: Transfer Pricing Documentation and Country-by-Country Reporting – Outlook Paper” discusses the proposed change, its genesis, global developments, and its impact. Following are the key highlights of this report are:
Preliminary recommendations to prepare large multinationals for the change.