Preparing for New Country-by-Country Reporting Requirements — Are You Ready?
Tax transparency is gaining steam for multinational enterprises (MNEs) that have to handle tax policies of countries around the world. And with base erosion and profit shifting practices attempting to circumvent burdensome tax policies, MNEs have their hands full ensuring proper taxation. This article explores the new country-by-country (CbC) reporting template recently finalized by the Organization for Economic Cooperation and Development (OECD), and examines proactive steps MNEs can take to prepare for this game-changing tax disclosure regulation.
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