The aim of this technical consultation process is to ensure that country-by-country reporting will be implemented in the United Kingdom as intended and with effect for accounting periods commencing on or after 1 January 2016. Legislation was introduced in section 122 Finance Act 2015 to enable the making of regulations to implement country-by-country reporting once the Organisation for Economic Co-operation and Development (OECD) had completed work on Action 13 of its
action plan on base erosion and profit shifting (BEPS).
These draft regulations should be read in conjunction with the OECD’s consolidated report on Action 13 of the BEPS action plan transfer pricing documentation and country-by-country reporting published on 5 October 2015. The technical consultation will be open until 16 November 2015.
Documents
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