Dominica: Government introduces country-by-country reporting legislation
Reporting obligations, compliance procedures, and mechanisms for the international exchange of CbC reports
The government on May 21, 2025, introduced legislation requiring multinational enterprise (MNE) groups with annual revenue exceeding US$850 million to file annual country-by-country (CbC) reports.
This move aligns with the OECD/G20 Base Erosion and Profit Shifting (BEPS) Action 13 framework, aimed at enhancing global tax transparency and assisting tax authorities in addressing profit shifting practices.
The legislation specifies reporting obligations, compliance procedures, and mechanisms for the international exchange of CbC reports. The first reporting period would begin January 1, 2025.
For more information, contact a KPMG tax professional in the Eastern Caribbean:
Grant McDonald | grantmcdonald@kpmg.bb
Marianne Greenidge | mariannegreenidge@kpmg.bb