CbCR is a new requirement for multinational enterprises (MNEs) with annual consolidated group revenues of €750 million or more. The first CbCR reporting period begins on or after January 1, 2016. MNEs will be required to file a CbCR notification to their local tax authority by the filing deadline of the parent company's income tax return.

MNEs will also be required to file a Country-by-Country Report (CbCR) with their local tax authority. The CbCR must be filed within 12 months after the end of the MNE group's fiscal year.

MNEs will be required to provide supporting documentation for the information included in the CbCR. The supporting documentation must be maintained for a period of five years and must be made available to the tax authorities upon request. CbCR notifications and Country-by-Country Reports must be filed in the tax jurisdiction of the MNE group's ultimate parent company.

If the ultimate parent company is located in a jurisdiction that does not have a CbCR filing requirement, the MNE group must file the CbCR notification and Country-by-Country Report in the jurisdiction of the MNE group's surrogate parent company. Our Country-by-country reporting (CbCR) and notification services offer MNEs a comprehensive solution for compliance with the new CbCR requirements. Our services include:

* CbCR notification filing; * CbCR report preparation; * Documentation support; * Filing in the tax jurisdiction of the MNE group's ultimate parent company or surrogate parent company; and * Maintenance of records for a period of five years.

Our team of experts can help your company meet the new CbCR requirements and avoid penalties for non-compliance. Contact us today to learn more about our Country-by-country reporting (CbCR) and notification services.