Australian Tax Office Explains Detailed Design Of CbC Reports

The Australian Taxation Office (ATO) released additional guidance with an overview of the detailed design of the local file / master file. The guidance addresses IT specifications for software developers to use in business management software to enable the generation of a valid XML file.

XML Schema

ATO informed that it developed a combined local file / master file XML schema, so the master file must be attached to the combined submission. The local file / master file XML schema comprises:

  • statement information for basic information relating to the statement being submitted;
  • intermediary information relating to an intermediary lodging on your behalf;
  • entity information about the reporting entity, and (where applicable) the global parent entity (if they are different entities);
  • statement lodgement criteria with details on the contents of the lodgement (i.e. which statements are included);
  • local file including the short form, Part A and Part B of the local file;
  • declarations that are standard for the intermediary and the reporting entity.

CbC Report

The design of the local file / master file XML schema allows for separate submissions of the three components of the local file and the master file. While the local/master file XML schema contains questions in relation to the lodgement of the Country-by-Country (CbC) report, the CbC report itself must be lodged separately in accordance with the OECD XML schema (v1.0). For more detailed information, see the source.

Sources:  ATO
 

We Provide Solutions - Let's Talk Business!

Webinar - "10 Practical Tips to Manage (tax risk) and File your Country-by-Country Report before year end"

Thursday 12 October 2017 | 5:00 PM - 6:00 PM Amsterdam (CET)
Thursday 19 October 2017 | 4:00 PM - 5:00 PM Amsterdam (CET)

Copyright © 2017
Transfer Pricing Associates BV.
All rights reserved.
 

H.J.E. Wenckebachweg 210
1096 AS Amsterdam
T: +31 20 462 3530
E: info@tpa-global.com
I: www.tpa-global.com