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By Emilien LEBAS, Senior Manager, KPMG Luxembourg
The last years have been characterized by a global trend for increasing tax transparency led, in particular, by the Organization for Economic Co-operation and Development (“OECD”) and the European Union (“EU”). After having focused in a first instance on individual taxpayers, through the exchange financial accounts information(1), the initiatives taken by the OECD and the EU in this field, now enter in the concrete phase as far as corporate taxpayers are con-cerned through Country-by-Country reporting obligations (“CbC Reporting”).
EU initiatives
In 2016, the EU Commission took two important initiatives in the field of CbC Reporting in line with Action 13 of OECD/G20 Base Erosion and...
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