Country by Country Reporting: Notification obligation before December 31, 2016

In the context of the implementation of the Country by Country reporting, the OCDE offered the option for countries to introduce provisions requiring a notification from the local constituent entities which allows the tax authority to identify the group’s reporting entity.

As of December 16, the countries for which the first notification should be made on or before December 31, 2016 (for MNE groups with a reporting period ending on December 31, 2016) are the following:

 

AustriaForm “VPDG 1” available on the website tax authorities. The form can be sent to the com-petent tax office in a similar way other official documents are sent to the responsible tax office
BulgariaNot yet announced
DenmarkForm 05.034 available on the website tax authorities. The form can be sent to the compe-tent tax office in a similar way other official documents are sent to the responsible tax of-fice.
SpainNotifcation through
IrelandNotification will be made via Irish Revenue’s online tax portal – Revenue Online Service (ROS).
LuxembourgElectronic filing expected.

 

Even though some of these jurisdictions have not finalized the procedures for providing this notification to the local tax authority, a notification before December 31, 2016 should be made to avoid any potential penalties.

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