Make your Taxman Happy! CbC Reporting with TRCS!
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Posted by Quest Customer Learning Team
- Last updated 10/11/21
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Presented at INNOVATE 2021
Session ID: 100190
Country-by-Country Reporting (CbC Reporting) is one of the four minimum standards of the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project to which over all countries have committed, covering the tax residence jurisdictions of nearly all multinational enterprise (MNE). There are many challenges like different tax rules, Manual processes, decentralized information and Lack of integration. Using TRCS – CbC Reporting, clients are able to provide an annual return detailing key elements of the financial statements by jurisdiction. The report provides local tax authorities visibility to revenue, income, tax paid and accrued, employment, capital, retained earnings, tangible assets and activities.
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