Australian Tax Office Explains Detailed Design Of CbC Reports

Australian Tax Office Explains Detailed Design Of CbC Reports
Specialties
Country expertise
Industries
Australian Tax Office Explains Detailed Design Of CbC Reports
April 18th, 2017
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.

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
 

Australian Tax Office Explains Detailed Design Of CbC Reports
; posted on
April 18th, 2017
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.
Tax Technology Event 2017
  • How to get your in-house organization and governance set-up BEPS-ready.
  • How to implement technology solutions and change management.
  • How to choose the most suitable tax technology solutions.

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