viernes, 16 de diciembre de 2016

Austria: CbC reporting notification due by end of 2016

Austria’s Transfer Pricing Documentation Act (TPDA) was published in the federal law gazette on 1 August 2016 and became effective on 2 August. The new documentation rules, which are in line with the OECD’s recommendations
under BEPS action 13, adopt the three-tier documentation approach and require the preparation of a master file, a local file and a country-by-country (CbC) report. The rules apply for multinational enterprise (MNE) groups’ financial years beginning on or after 1 January 2016. In addition, notification obligations relating to the CbC report apply for financial year 2016, and entities required to file a notification must do so by 31 December 2016.

Filing obligation
The CbC reporting obligation applies where the global consolidated revenue of an MNE group in the immediately preceding fiscal year is at least EUR 750 million. The report must be filed by the ultimate parent company of the group
and is due 12 months after the fiscal year end (i.e. the first reports will be due by 31 December 2017). If an Austrian company is the ultimate parent, it must file the report. However, where the ultimate parent is a nonresident and the following requirements are met, an Austrian company may assume the responsibility, or it will be appointed by the tax authorities to file the report on behalf of the group (as a “surrogate” parent entity):

  • The ultimate parent company is not required to prepare a CbC report in its country of residence;
  • There is no exchange of information arrangement between Austria and the country where the ultimate parent is resident; and
  • As a result of circumstances in the ultimate parent’s country of residence, there is no possibility to receive the information.


Notification requirement
According to the TPDA, each Austrian entity that is part of an MNE group that is required to file a CbC report must inform the competent tax office by the last day of the relevant reporting year. Austrian entities that are part of an MNE group with consolidated revenue of at least EUR 750 million in fiscal year 2015 and that maintain financial accounts on a calendar-year basis must provide the following information to the Austrian tax authorities by 31 December 2016:

  • Whether the Austrian entity is the ultimate parent entity or a surrogate parent entity; or
  • If the Austrian entity is not the reporting entity, which constituent entity is obliged to file the report and the jurisdiction where that entity is resident.


Notification procedure
On 28 November 2016, the notification form was published on the Ministry of Finance website. This paper form may be used (optionally) to meet the notification requirements relating to the CbC reporting obligation. The form must include the following information for the notifying entity, the reporting entity and the ultimate parent entity: name and legal form, tax residence, address, VAT number, tax identification number and commercial register number (or comparable number for another jurisdiction).

Source & more info: Deloitte

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