Antigua and Barbuda: Country-by-country (CbC) reporting and transfer pricing rules; MCAA for CbC reports
BEPS Bill 2025 set to take effect in January 2026
The Ministry of Legal Affairs, Public Safety, and Labour on February 26, 2025, published the Base Erosion and Profit Shifting (BEPS) Bill 2025, scheduled to take effect January 1, 2026. The bill mandates country-by-country reporting for multinational enterprises (MNEs) with revenues exceeding €750 million, enforces transfer pricing rules, and introduces penalties for non-compliance.
On the same day, the Organisation for Economic Cooperation and Development (OECD) announced that Antigua and Barbuda joined the Multilateral Competent Authority Agreement on Automatic Exchange of Country-by-Country Reports (CbC MCAA) in October 2024. This agreement facilitates the automatic exchange of reports among 108 jurisdictions, providing tax administrations with insights into multinational enterprises' global financial activities.
For more information, contact a KPMG tax professional in the Eastern Caribbean:
Grant McDonald | grantmcdonald@kpmg.bb
Marianne Greenidge | mariannegreenidge@kpmg.bb