The OECD has published its sixth peer review report on BEPS Action 13, on implementation of the country-by-country (CbC) reporting minimum standard. Findings include:
over 110 jurisdictions have already introduced legislation to impose a reporting obligation on MNE groups - remaining Inclusive Framework members are ‘working towards’ finalising their domestic legal frameworks;
where legislation is in place, the implementation of CbC reporting has been found largely consistent with the Action 13 minimum standard;
recommendations made in the first five peer review phases have mostly been addressed; and
more than 3,000 bilateral relationships for the exchange of CbC reports are now in place.
The OECD has published its sixth peer review report on BEPS Action 13, on implementation of the country-by-country (CbC) reporting minimum standard. Findings include:
over 110 jurisdictions have already introduced legislation to impose a reporting obligation on MNE groups - remaining Inclusive Framework members are ‘working towards’ finalising their domestic legal frameworks;
where legislation is in place, the implementation of CbC reporting has been found largely consistent with the Action 13 minimum standard;
recommendations made in the first five peer review phases have mostly been addressed; and
more than 3,000 bilateral relationships for the exchange of CbC reports are now in place.
