CbC Reporting: ATO Guidance
Posted by Northadvisory on February 5, 2018
The ATO has released guidance on the implementation of Country-by-Country (CbC) reporting in Australia.
The ATO guidance outlines its administrative practice, including advice on CbC reporting, to assist taxpayers in understanding and meeting reporting obligations for significant global entities).
It supplements and should be read with Law Companion Guideline LCG 2015/3 (issued 17 December 2015).
According to the ATO, the three types of statements required under the CbC reporting regime correspond to the master file, local file and CbC report in Annexes I, II and III to Chapter V of the final report.
The ATO has approved forms for each of these statements. Read more Financial Industry articles.