The OECD has addressed two further issues in its guidance on CbC reporting (BEPS Action 13) and has released a compilation of alternative approaches adopted in different jurisdictions. The inclusive framework on BEPS has also updated its conclusions on preferential tax regimes (BEPS Action 5) in Barbados and Canada.
The additional CbC guidance addresses two specific issues:
the definition of total consolidated group revenue; and
whether non-compliance with the confidentiality, appropriate use and consistency conditions constitutes systemic failure.
Barbados has committed to amend two regimes identified as ‘potentially harmful’, for which the conclusions have been updated to ‘in the process of being amended’.
Canada has abolished its regime for international banking centres, which was identified in 2004 as ‘potentially but not actually harmful’.
The OECD has addressed two further issues in its guidance on CbC reporting (BEPS Action 13) and has released a compilation of alternative approaches adopted in different jurisdictions. The inclusive framework on BEPS has also updated its conclusions on preferential tax regimes (BEPS Action 5) in Barbados and Canada.
The additional CbC guidance addresses two specific issues:
the definition of total consolidated group revenue; and
whether non-compliance with the confidentiality, appropriate use and consistency conditions constitutes systemic failure.
Barbados has committed to amend two regimes identified as ‘potentially harmful’, for which the conclusions have been updated to ‘in the process of being amended’.
Canada has abolished its regime for international banking centres, which was identified in 2004 as ‘potentially but not actually harmful’.
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