OECD releases first country report

The Organization for Economic Cooperation and Development presented the first review of the situation with the introduction of a country reporting regime in accordance with the recommendations of its own plan to combat the erosion of the tax base and the transfer of profits (BEPS).

The presented report reflects the implementation of new rules in the national legislation and administrative system of individual countries as of January. During three consecutive years, the conformity of the national legislation of individual countries, as well as the organization of information exchange and respect for confidentiality of information, will be checking.

In Russia, the mandatory country reporting mechanism has come into force for annual periods beginning since January 1^st, 2017 (and with voluntary training provided since January 1, 2016). It is provided for by the Tax Code.

On materials of the following website : https://read.oecd-ilibrary.org/taxation/country-by-country-reporting-compilation-of-peer-review-reports-phase-1_9789264300057-en#page432