OECD: Status report on country-by-country reporting

OECD: Status report on country-by-country reporting

The Organisation for Economic Cooperation and Development today issued a release regarding the third phase of peer reviews of the country-by-country (CbC) reporting initiative pursuant to the base erosion and profit shifting (BEPS) Action 13.


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According to the OECD release, the CbC reporting initiative demonstrates “strong progress in continuing efforts to improve the taxation of multinational enterprises (MNEs) worldwide.”


CbC reporting is one of the four minimum standards of the BEPS project, and requires tax administrations to collect and share detailed information on all large MNEs doing business in their country. Information collected includes the amount of revenue reported, profit before income tax, and income tax paid and accrued, as well as the stated capital, accumulated earnings, number of employees and tangible assets, broken down by jurisdiction.

With CbC reporting, tax administrations will have received detailed information on all large MNEs doing business in their country.

Findings of third annual peer review

This third annual peer review considered implementation of the CbC reporting minimum standard by jurisdictions as of April 2020. In summary, the peer review revealed the following highlights:

  • Coverage has increased to 131 jurisdictions
  • Practically all MNEs that are over the threshold for filing are now covered
  • Implementation is largely consistent with BEPS Action 13
  • Jurisdictions have acted on prior recommendations from earlier peer reviews
  • Over 2500 exchange relationships are now in place

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