https://www.taxtmi.com/article/detailed?id=6712 Introduction of Country By Country reporting mandates international groups above a prescribed consolidated revenue threshold to furnish an OECD format CbC report, with the parent entity primarily responsible for filing and constituent entities required to identify parent residency when appropriate. The report must disclose jurisdictional aggregates of revenue, pre tax profit, taxes paid and accrued, capital, accumulated earnings, employee counts, tangible assets, and constituent residence and main activity. The prescribed authority may request supporting documents with a thirty day compliance period. Filing obligations apply where information exchange with the parent's jurisdiction is unavailable, and a tiered penalty regime with possible reasonable cause defense is proposed. en-us Tue, 01 Mar 2016 14:23:07 +0530 Tue, 01 Mar 2016 14:23:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6712 Introduction of Country By Country reporting mandates international groups above a prescribed consolidated revenue threshold to furnish an OECD format CbC report, with the parent entity primarily responsible for filing and constituent entities required to identify parent residency when appropriate. The report must disclose jurisdictional aggregates of revenue, pre tax profit, taxes paid and accrued, capital, accumulated earnings, employee counts, tangible assets, and constituent residence and main activity. The prescribed authority may request supporting documents with a thirty day compliance period. Filing obligations apply where information exchange with the parent's jurisdiction is unavailable, and a tiered penalty regime with possible reasonable cause defense is proposed. Articles Budget - Tax Proposals Tue, 01 Mar 2016 14:23:07 +0530 https://www.taxtmi.com/article/detailed?id=6712