December 2017
When it comes to understanding the complexities of international taxation, it is essential to take note of the longstanding ability of multinational companies (MNCs) to conduct cross-border transactions and shift profits. Under the tax laws that are regulated by the Organization for Economic Cooperation and Development (OECD), over 100 countries and jurisdictions are cooperating to implement the Base Erosion and Profit Shifting (BEPS) initiative to close gaps in international taxation. Among the 15 Action Items OECD issued in 2015, BEPS Action Item 13 includes a country-by country (CbC) reporting requirement. The following is a summary of the CbC requirement.
