United Kingdom - Country-by-country reporting, documentation under OECD discussion draft 

February 7: The KPMG member firm in the United Kingdom has prepared a report examining the OECD's discussion draft on transfer pricing documentation and country-by-country reporting, under the Base Erosion and Profit Shifting (BEPS) Action Plan.

Read the February 2014 report [PDF 90 KB] on the BEPS discussion draft.

KPMG observation

Businesses have until 23 February 2014 to submit comments on the discussion draft to the OECD, ahead of a public consultation meeting at the end of March 2014. This is a relatively short consultation period; accordingly, it is imperative that businesses engage now on the key questions raised in the draft, so that whatever is finally agreed provides tax authorities with the relevant information they need, yet does not place an unreasonable burden on companies.

Read more in a February 2014 report [PDF 718 KB] prepared by the KPMG member firm in the United Kingdom: Weekly Tax Matters (7 February 2014)

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