The OECD today wrapped up a two-day public consultation reviewing the country-by-country reporting scheme for multinational groups. The meeting, held remotely via video conference, featured presentations and discussion by business representatives, members of civil society, and academics.
Established in 2015 as a result of the OECD/G20 base erosion profit shifting (BEPS) plan agreements, the country-by-country reporting scheme is designed to provide tax administrations with information needed to assess whether there is a risk that multinational groups operating in their countries are avoiding tax through inappropriate transfer pricing or other means. As a part of the 2015 BEPS agreements, countries decided that the country-by-country reporting scheme would be reassessed in 2020, prompting this hearing.
Topics addressed at the consultation included whether the reports provided by multinationals to tax administrations under the country-by-country reporting scheme should be made public, whether additional or different information should be disclosed by multinationals, or whether the thresholds for reporting should be changed.
The meeting follows the release of a consultation document on the topic, which received many written comments.
You can watch a replay of the event at the following links:
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