Companies belonging to international capital groups whose consolidated revenues in the previous tax year exceeded the equivalent of EUR 750 million are subject to the Country-by-Country Reporting obligation (CBC-P and CBC-R). This is one of the key requirements introduced under the provisions on combating tax avoidance and increasing tax transparency of international capital groups.
CBC reporting aims to provide the tax administration with information on the global activities of the group, including the distribution of revenues, profits made, taxes paid and the allocation of resources in different jurisdictions. This requirement was introduced as part of international OECD standards and EU regulations, and failure to comply with it may result in financial penalties and other legal consequences.
To ensure compliance with applicable regulations and facilitate the reporting process for you, we offer comprehensive services in the preparation and submission of notifications and CBC information.
As part of our support, we provide full support for the CBC reporting process, including the following key activities:
– specifying which entity in the capital group is responsible for preparing and sending the CBC report. Depending on the structure of the group and the applicable regulations, this obligation may rest with the parent entity or another designated entity.
– identification and collection of required information regarding the activities of the capital group, its subsidiaries and the distribution of income and taxes in individual countries. We ensure verification of the correctness of data and its compliance with applicable regulations.
– preparation of a complete CBC report that meets OECD standards and national regulations regarding reporting of international transactions and capital group structure.
– detailed instructions on how to submit a report to the appropriate tax authority, as well as assistance with the technical submission of documentation.
– we provide analysis of reporting obligations and support in adapting the company’s internal procedures to the current regulatory requirements for CBC reporting.
Our support in CBC reporting is a guarantee of compliance with regulations and minimization of tax risk. Cooperation with us provides you with the following benefits:
Complete and reliable information from CBC – thanks to our help, you receive a fully prepared, complete and compliant with applicable regulations form to send to the office. Our actions minimize the risk of errors and ensure data transparency.
Support in the correct classification of data – CBC reporting requires precise allocation of revenues, taxes and employment in individual countries. We offer advice on the correct classification and interpretation of regulations.
Form submission instructions – we prepare detailed instructions regarding the process of submitting the report and provide support at every stage of its submission. For entities with a complex ownership structure, we offer additional advice on meeting formal obligations.
Minimizing tax risk – proper and timely CBC reporting allows you to avoid financial penalties and potential tax audits resulting from non-compliance with regulations.
Save Time and Resources – preparing a CBC report is a complex process that requires advanced analysis of financial data. Our assistance allows your company to focus on operational activities, instead of engaging internal resources to handle complex tax obligations.
CBC reporting is an essential element of global anti-tax avoidance policy and requires accuracy and knowledge of current international regulations. Our team has many years of experience in the area of transfer pricing and tax reporting, thanks to which we can provide you with comprehensive support at every stage of the process.
Our services are tailored to the specifics of the activities of international capital groups, and our team of experts constantly monitors changing regulations to ensure full compliance of reporting with legal requirements. With us, your company can avoid the risk of errors and potential consequences resulting from incorrect preparation of the CBC report.
If you would like to benefit from professional support in the field of CBC reporting, please contact us. We offer advice at every stage of report preparation and full support in the technical and formal process of its submission.
Don't wait - ensure your company's compliance with CBC reporting requirements and take advantage of our expert help!
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Izabela Wójcik
Director, Tax Advisor
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Paweł Turek
Partner, Attorney-at-law, Tax Advisor