Argentina Extends CbC BEPS Reporting Deadline
Argentina’s Federal Administration of Public Income has extended the filing deadline for country-by-country (CbC) notifications.
Taxpayers who are part of multinational enterprises now have until May 2, 2018, to file CbC notifications where the ultimate parent company of the multinational group has a December 2017 fiscal year end.
The CbC reporting requirement is one element of a new three-tiered standardized approach to transfer pricing documentation as proposed in Action 13 of the OECD’s base erosion and profit shifting (BEPS) project.
CbC reporting requires multinational enterprises to provide aggregate information annually, in each jurisdiction where they do business, relating to the global allocation of income and taxes paid, together with other indicators of the location of economic activity within the multinational group. It also covers information about which entities do business in a particular jurisdiction and the business activities each entity engages in.
