Saturday, 13 June 2015

OECD releases model documents for implementing country-by-country reporting

On 8 June 2015, the OECD released a "Country-by-Country Reporting Implementation Package."  The package includes model legislation the OECD suggests could be used by countries to mandate filing of country-by-country reports (CbCRs).  The model legislation does not attempt to address the filing of the so-called master file or local file reports.  The implementation package also includes three model competent authority agreements that could be used by each country, depending on how it intends to effect exchange of CbCRs.
Source & more info: PwC