Country-by-country reporting is one of four standards established by the BEPS (Base Erosion and Profit Shifting Project) in Europe. CbC reporting provides tax information on large MNE (Multinational Enterprises) groups and their jurisdictions.
The OECD has provided a template for MNEs to report annually for each tax jurisdiction. While jurisdictions are working to comply in all areas of the BEPS standard, during the start-up phase, there are challenges to comply with the CbC Reporting. As compliance becomes more streamlined, and the tax administrations and MNE groups gain in experience, these challenges should diminish.
OPES provides a solution to mitigate the challenges faced by filing the CbC report. We offer a compliant XML template that can be completed quickly. OPES can convert and file for you.
Simply enter the required information into our user-friendly MS Excel Template and we will create your Country-by-Country XML report file for you.