More country-by-country reporting guidance for multinationals released

The OECD on November 30 released guidance approved by the Inclusive Framework on BEPS designed to assist tax administrations and multinationals on the implementation of country-by-country reporting pursuant to OECD/G20 base erosion profit shifting (BEPS) Action 13.

The guidance addresses how to report amounts taken from financial statements prepared using fair value accounting; how to treat a negative figure for accumulated earnings in Table 1; how to treat mergers/acquisitions/de-mergers; how to treat short accounting periods; and the definition of total consolidated group revenue.


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