Under BEPS Action 13, all large multinational enterprises must prepare a country-by-country report with aggregate data on the global allocation of income, profit, taxes paid and economic activity among tax jurisdictions in which it operates. Reports need to be filed containing high-level data on the global allocation of income, taxes and other measures of economic activity. The purpose of the Country-by-Country Reporting is to provide tax authorities with the information to conduct high-level risk assessments and determine which entities to audit further, focusing on transfer pricing and BEPS related risks. Country-by-Country Reporting is part of a broad suite of measures to combat tax avoidance through comprehensive exchanges of information between countries.
Multinationals must leverage the right technology to ensure they are equipped to comply with the local tax authority's Country-by-Country reporting requirements.
CCH Integrator is built to facilitate this requirement through:
- Cloud-based collaboration
- Streamlined calculations
- Risk mitigation by uploading and managing data disclosures
- Detailed and defensible audit trail
Watch this on-demand presentation to get an oversight of our cloud-based software solution, which can be quickly and easily deployed, to facilitate preparing and disclosing accurate and auditable Country-by-Country Reporting information to meet BEPS Action 13. Although presented initially to Singapore tax professionals, the content and Country-by-Country Reporting benefits that CCH Integrator offer corporates is universal for all countries.
