Country by country reporting CBCR
In line with BEPS Action 13, UAE’s Country by Country Reporting requires large Multinational Groups in the country to file a report that provides a breakdown of the global revenue, profit before tax, income tax accrued, and some other indicators of economic activities for each jurisdiction in which they operate.
The purpose of CbCR is to eliminate any gap in information between the taxpayers and tax administrations with respect to information on where the economic value is generated by the group and whether it matches where profits are allocated and taxes are paid on a global level. The reporting can be challenging with regard to applicability and segregation of economic indicators since, oftentimes, entities treat the group as a whole and due to varying norms followed by different jurisdictions. We can help you determine the applicability, classify the data fields into relevant tables, bifurcate the indicators prescribed, enrolment on the CbCR portal and submission of CbCR filings.