Australia: Delay in implementation of public country-by-country (CbC) reporting

12-month delay, to 1 July 2024

12-month delay, to 1 July 2024

The government on 23 June 2023 announced a 12-month delay in the implementation of public country-by-country (CbC) reporting to 1 July 2024 (from the originally proposed 1 July 2023).

The delayed start date is intended to better align with the commencement of the EU’s public CbC reporting directive and to allow more time for consultation.

The government also released a Treasury document [PDF 165 KB] entitled “Summary of Consultation Process Outcomes” that provides further details on the direction of the proposed CbC reporting changes.

In both the Treasury document and in Attachment 1: Impact Analysis for Schedule 1 of the Explanatory Memorandum to a bill containing other measures related to multinational entities (MNEs) introduced in Australian Parliament on 22 June 2023, the government has highlighted certain themes and preferred design options arising from stakeholder consultation.

Of particular note is the removal of the additional data requirements proposed in the original public CbC legislative draft, which were in excess of requirements for other global tax transparency regimes.

Read a June 2023 report [PDF 245 KB] prepared by the KPMG member firm in Australia



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