Following up the post of 8 December, France’s National Assembly provided a last-minute “no” vote with respect to providing country-by-country (CbC) reports for the public domain.
This has incited an outcry by the enthusiasts behind the transparency measure for additional insight into a multinational’s global tax posture.
Notwithstanding the “no” vote in France, this scenario is expected to emerge in other countries as the OECD BEPS implementation of CbC reporting is established in the local legislative frameworks.
In summary, the premise of multinational organizations for public CbC reports should still be the framework behind the date gathering process that is commencing.
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