Tax avoidance & CbCR - Functioning of CbCR
6 important questions on Tax avoidance & CbCR - Functioning of CbCR
Who imposed the CBCR
What are some main characteristics of CbCR
- The EU adopted it as a part of ATAD
- Applies to MNEs with a consolidated group revenue equal to or exceeding 750 million
- Has to be filed in the parent entity's jurisdiction or by a surrogate parent
- Publicly disclosed. Exemption possible of 5 years
What are some criticisms of CbCR?
- Complexity
- Data sensitivity
- Uneven implementation
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What are the 3 key tables in CbCR reports
- Provides aggregate data for each jurisdiction in which the MNE operates.
- Lists all constituent entities of the MNE group and their main activities in each jurisdiction
- Includes any additional information the MNE wishes to provide to explain the data in the first two tables.
How is the revenue breakdown in CbCR reports?
- Revenue from related party transactions
- Revenue form unrelated party transactions
What type of financial information has to be showed in CbCR?
- Aggregate date, financial information for each jurisdiction in which they operate
- Exceptions where local consolidated data is accepted.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
