Country by Country Reporter

Trans World Compliance, Inc. solutions for Tax Authorities includes: CRS/FATCA One for Tax Authorities and Country by Country Reporter. These systems helps IRS Model 1 FATCA countries and OECD/G20 Common Reporting Standard (CRS) countries to securely collect, analyze, and disseminate the information to comply with international Automatic Exchange of Information (AEOI) agreements. (Click here to learn about CRS/FATCA One for Tax Authorities™).

Country by Country Reporter software allows tax authorities to comply with obligations under the OECD/G20 Action Plan for Base Erosion and Profit Shifting (BEPS) Action 13. Under this requirement, Multi-National Enterprises (MNEs) with a turnover greater than €750.000.000 need to report certain information about their income, operations, and taxes paid by jurisdiction.

This information is stored locally and exchanged via the OECD’s Common Data Transmission System. Trans World Compliance’s Country-by-Country Reporter allows MNEs to report their data and for Tax Authorities to exchange this data upon request with other Tax Jurisdictions.

The Country-by-Country Reporter™ Process:

Multi National Enterprises (MNE) / Tax Authorities (TA)

MNE Registers
TA approves and activates users

Multi-National Entities

Load the data into Country-by-Country Reporter via Spreadsheets
Review the data to be submitted
Submit the data to the TA for review

Tax Authorities

Reviews submissions
Approves data
Releases data for exchange / requests data with other tax authorities

The Country-by-Country Reporter™ Benefits:

Generates the XML for MNEs and Tax Authorities
Checks for non-conforming XML to weed out errors prior to submission
Produces PDF reports for audit records
Allows MNE to securely register and Tax Authorities to approve the registrations
Developed by Trans World Compliance, whose sole focus is Tax Compliance Systems

Download the white paper: FATCA One for Tax Authorities Country-by-Country Reporter