The Australian Taxation Office (ATO) updated the instructions for taxpayers regarding their country-by-country (CbC) reporting obligations for 2020.
The ATO instructions are available for submitting the Local file for 2020, and relate to reporting periods starting on or after 1 January 2019.
According to the ATO, the Local file must be electronically lodged (filed) and will be part of a combined form that will also contain the Master file. The Local file may be lodged separately or together with the Master file.
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