Addressing transparency in an ever changing tax landscape

Tax transparency is of increasing importance for multinational organisations, and is no longer just an issue for the Head of Tax to deal with.

As the Organisation for Economic Co-operation and Development (OECD) introduces transfer pricing (TP) documentation reporting requirements as part of greater transparency initiatives globally, multinational organisations will need to report a variety of financial and tax information to tax authorities for the first time.

The new Country by Country Reporting (CbCR) requirements will come into effect for the UK in January 2016. Companies will need to ensure they can comply with these, understand how this information will be viewed and confirm it is consistent with disclosures made to other global tax authorities.

Engagement at Board level early on will be crucial in ensuring that CbCR is implemented effectively and in line with the organisation's tax strategy and approach to transparency. Consideration should be given to how this data will be reported, whether your current finance systems have the necessary capabilities to gather the required data and what ongoing additional resource you need to implement and manage TP and CbCR reporting.

Our animation will help you understand what is required for CbCR and how this fits into wider TP requirements, as well as how you can put a plan in place to deal with the changes ahead.

 To discuss this issue further please don’t hesitate to get in touch or talk to your usual PwC adviser.

Stuart MacPherson

Office: +44 (0) 207 212 6377 | Mobile: +44 (0) 770 356 2384
Email: [email protected]