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OECD: First peer reviews of country-by-country reports, in advance of June 2018 rollout

OECD: First peer reviews of country-by-country reports

The Organisation for Economic Cooperation and Development (OECD) today released the first peer reviews of the country-by-country (CbC) reporting initiative.


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According to the OECD release, these first reviews of the CbC reporting initiative demonstrate “…strong progress toward the imminent implementation of a key element in continuing efforts to improve taxation of multinational enterprises (MNEs) worldwide.” The OECD stated that the peer reviews show that practically all countries that serve as headquarters to the large MNEs covered by the initiative have introduced new reporting obligations compliant with transparency requirements.

CbC reporting exchanges are scheduled to begin in June 2018, and more than 1,400 bilateral relationships are in place for CbC exchanges (with more expected).

The OECD reported that the first annual peer review focuses mainly on the domestic legal and administrative framework, and reflects implementation as of January 2018. The second annual peer review, covering all members of the BEPS Inclusive Framework, was launched in April 2018. It will focus on the exchange of information aspects, as well as the confidentiality and appropriate use conditions.

After the first exchanges of CbC reports, the OECD will turn to analyze how CbC reports are used by tax administrations in assessing transfer pricing and other BEPS-related risks.  

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