OECD Releases Additional Guidance on CbC Reporting

On 6 April 2017, the OECD announced the release of updated additional guidance on Country-by-Country reporting from the Inclusive Framework on BEPS. The update provides new guidance to further clarify:

• The definition of revenues;
• The definition of related parties;
• The accounting principles/standards for determining the existence of and membership of a group;
• The treatment of major shareholdings;
• The definition of total consolidated group revenue; and
• The transitional filing options for MNEs …