Paris
08 May 2017
Reporter: Mark Dugdale

OECD provides update on CbC reporting


The Organisation for Economic Co-operation and Development (OECD) has announced a fresh “wave of activations” as jurisdictions work toward the implementation of country-by-country reporting to tackle base erosion and profit shifting.

More than 700 automatic exchange relationships have now been established among jurisdictions committed to exchanging country-by-country reports in the 2018, including EU member states.

Fifty-seven countries have committed to country-by-country reporting, under three agreement models designed for jurisdictions to mutually agree the scope of the automatic exchange of information.

The BEPS Action 13 report laid out the template for multinational enterprises to report annually and for each tax jurisdiction in which they do business.

The OECD said in a statement: “Today's wave of activations of country-by-country reporting exchange relationships is an important step towards the timely implementation of country-by-country reporting and reflects the commitment of jurisdictions around the world to the fight against base erosion and profit shifting.”

More regulation news
The latest news from Captive Insurance Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Central Bank of Malaysia calls for more captive data
21 August 2017 | Kuala Lumpur | Reporter: Mark Dugdale
The paucity of data on captives needs to be addressed as a matter of priority, according to Muhammad bin Ibrahim
Coverage for pre-existing conditions tops healthcare reform concerns
02 August 2017 | Ohio | Reporter: Becky Butcher
Retaining insurance coverage for pre-existing conditions is the most vital feature of successful long-term healthcare reform, according to a survey by KeyBank
OECD releases additional guidance on CbC reporting
21 July 2017 | Brussels | Reporter: Becky Butcher
The Organisation for Economic Co-operation and Development (OECD) has provided further guidance on the implementation of country-by-country (CbC) reporting under its framework on base erosion and profit shifting (BEPS) initiative
UK government sets out new ILS framework
21 July 2017 | London | Reporter: Becky Butcher
The UK Treasury has published new rules for insurance-linked securities (ILS) as the country aims to grab a share of the rapidly growing market
US agrees to sign US-EU covered agreement
18 July 2017 | Washington DC | Reporter: Becky Butcher
The US Department of the Treasury and the Office of the US Trade Representative have revealed their intent to sign the bilateral agreement between the US and EU regarding insurance and reinsurance
UK to implement ILS regime this autumn
27 June 2017 | London | Reporter: Becky Butcher
London’s insurance-linked securities regulation is now being finalised by the UK Government ready for implementation this autumn, according to a letter sent from HM Treasury to the London Market Group’s Nicolas Aubert
Texas governor signs off captive bill updates
19 June 2017 | Austin | Reporter: Becky Butcher
Texas governor Greg Abbott has signed the state’s new captive bill into law