The OECD has released two sets of guides which it says will give greater certainty to tax administrations and Multinational Enterprise Groups alike on the implementation and operation of Country-by-Country (CbC) Reporting (BEPS Action 13).

Existing guidance on the implementation of CbC Reporting has been updated and guidance has also been released on the appropriate use of the information contained in CbC Reports. This includes guidance on the meaning of “appropriate use”, the consequences of non-compliance with the appropriate use condition and approaches that may be used by tax administrations to ensure the appropriate use of CbCR information.