03 June 2016 German Ministry of Finance publishes draft bill to implement country-by-country reporting and other measures against base erosion and profit shifting The German Ministry of Finance (MoF) published a technical draft of the Act Concerning the Implementation of Changes to the EU Administrative Cooperation Directive and of Additional Measures against Base Erosion and Profit Shifting on June 1. The core part of the draft is the implementation of the non-public Country-by-Country (CbC) reporting standards, as proposed by the Organisation for Economic Co-operation and Development (OECD) in its report on Action 13 of the Base Erosion and Profit Shifting (BEPS) project. The draft foresees mandatory CbC reporting for fiscal years beginning after December 31, 2015. The draft also includes the implementation of the European Union (EU) Automatic Information Exchange Directive, which was adopted in December 2015 and governs the exchange of information concerning advance cross-border rulings and advance pricing arrangements. A Tax Alert prepared by EY's Global Tax Desk Network, and attached below, provides additional details. Document ID: 2016-0963 |
