Global

Details

  • Service: Tax, Global Transfer Pricing Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 11/15/2013

OECD - Comparison of country-by-country reporting initiatives  

November 15: The OECD's Action Plan on Base Erosion and Profit Shifting (BEPS)—a significant development in respect of multilateral initiatives for modifying international tax rules—covers 15 specific actions, one of which would aim to enhance tax transparency through greater country-by-country reporting.

Country-by-country reporting is currently required in certain jurisdictions, such as:


  • The U.S. law known as the Dodd-Frank Act (2010) which imposes country-by-country reporting rules on all SEC-registered companies in the extractive industries
  • A July 2013 action by the European Parliament to adopt similar country-by-country reporting rules for extractives and the logging industry (a directive is in the process of being implemented)
  • An EC directive on capital requirements (June 2013) to require credit institutions and investment firms to report country-by-country data, including taxes, turnover, profits and employee numbers

Read a November 2013 report prepared by the KPMG member firm in the United Kingdom: Country by country reporting - overview and comparison of the initiatives




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