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OECD releases CBC reporting peer reviews

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The OECD has released the first peer reviews of the country by country (CBC) reporting initiative, focusing mainly on the domestic legal and administrative framework.

The review covered 95 jurisdictions.  As of 12 January, the key findings were:

  • 60 jurisdictions have already introduced legislation to impose a filing obligation on multinational groups, with implementation of CbC Reporting largely consistent with the BEPS Action 13 minimum standard;
  • 58 jurisdictions have multilateral or bilateral competent authority agreements in place; and
  • 39 jurisdictions provided detailed information relating to appropriate use.

16 jurisdictions were not yet able to submit material for the peer review process, owing to such things as capacity constraints or impacts of natural disasters.

A second review was launched in April and will cover the exchange of information framework, as well as confidentiality and appropriate use conditions.

The first exchanges are due to begin in June. The OECD will then begin analysing how CbC reports are used by tax administrations in assessing transfer pricing and other BEPS-related risks.


Issue: 1401
Categories: News , International taxes