Irish Revenue has added new Tax and Duty Manual, Part 38-03-21 providing answers to frequently asked questions on Ireland’s laws and regulations applicable to large multinationals on country-by-country reporting.
In a May 4 notice, the Irish tax agency said that the new manual replaces existing frequently-asked-questions that it previously provided on its website.
Country-by-country reporting was developed in 2015 by OECD and G20 nations as a result of the base erosion profit shifting (BEPS plan. The scheme is designed to provide tax authorities worldwide with a tool to better assess whether multinational operating in their countries are at risk of tax avoidance through transfer pricing or other means.
Be the first to comment