Switzerland Releases Draft Legislation on CbC Reporting for Consultation

On Apr 13, 2016, the Swiss Federal Council initiated the consultation procedure on the multilateral agreement on the exchange of country-by-country (CbC) reports as well as the federal act for domestic implementation. The draft legislation for CbC reporting generally follows the recommendations of t...

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Bibliographic Details
Published in:Journal of International Taxation 2016-07, Vol.27 (7), p.13
Main Authors: Semadeni, Thomas, Schwarzwaelder, Christian, Fleischer, Katja, Marx, Stephan
Format: Article
Language:English
Subjects:
Councils
Documentation
Fiscal years
International taxation
Legislation
Multinational corporations
Parliaments
Referendums
Tax avoidance
Transfer pricing
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Summary:On Apr 13, 2016, the Swiss Federal Council initiated the consultation procedure on the multilateral agreement on the exchange of country-by-country (CbC) reports as well as the federal act for domestic implementation. The draft legislation for CbC reporting generally follows the recommendations of the OECD as presented on Oct 5, 2015, in its final report on BEPS Action 13 (Transfer Pricing Documentation and Country-by-Country Reporting). The draft bill, however, does not adopt the three-tiered approach to transfer pricing documentation (master file, local file, and CbC report). The first automatic exchange of CbC reports with partner states is expected to take place during the first half of 2020 with information related to fiscal year 2018.
ISSN:1049-6378