Are you ready for the era of super transparency?

Most multinational enterprises (“MNEs”) that are subject to the Country-by-Country Reporting ("CbCR") requirements have filed their first CbCR with the local tax authorities. These reports have subsequently been exchanged before the end of June 2018 between the respective tax authorities in the different jurisdictions. The key question is, “what will be the next steps and what output can be retrieved from your CbCR?” More importantly, what could you do to manage your CbCR and mitigate potential exposures that may arise from this new reporting obligation?

In the context for more transparency, as part of the Base Erosion and Profit Shifting ("BEPS") initiative, the Organisation for Economic Cooperation and Development ("OECD") issued end of 2015 the CbCR requirements for MNEs whose total consolidated turnover exceed 750 million Euros.