Implications of Country-by-Country Reporting

In its efforts to curb base erosion and profit shifting by multinational corporations, the Organization for Economic Co-operation and Development (OECD) has been working on a series of guidelines for its members (and recommendations for nonmembers) designed to increase transparency and global cooperation among international trading partners. Among these was recently passed Article 13, which requires businesses operating internationally to file a comprehensive report detailing, among other things, the revenue, profits before tax, and income taxes paid and accrued within each tax jurisdiction where the company conducts business.

As you can imagine, while such guidelines are well-intentioned, they will create significant challenges to international businesses, as well as those that wish to expand into the international market. At M. Bradford Randolph, Esq., PLLC, we have more than 25 years of experience managing the progressions of tax law as they apply to businesses operating in the U.S. and overseas. We are well-equipped to assist multinational businesses, or businesses seeking to expand their international presence, with the necessary preparations for country-by-country reporting.

Call our office at Rockefeller Center in New York City at 212-759-0097 to speak with an experienced business and international tax attorney.

Helping Businesses Prepare

Our firm is well-equipped to help businesses develop the proper procedures and correct forms now, so that they remain in compliance as these efforts are adopted. We can assist with:

  • The preparation of tax returns within the countries in which your business operates and, if applicable, the country-by-country template
  • Reconciling local tax returns with the template in efforts to minimize the chance of a local audit
  • Aligning your internal reporting with that of the proposed requirements in an effort to minimize compliance concerns
  • Anticipating the full effect that these regulations will have on your current business model and intended growth opportunities

Experienced Guidance On Managing Your International Tax Obligations

We offer insightful and comprehensive guidance on complex business tax laws, both domestic and international. As both an MBA and CPA, attorney Randolph understands the practical impact that country-by-country reporting will have on your business from both a corporate accounting and a legal standpoint, a rarity among legal practitioners.

Contact us online or call 212-759-0097 to schedule a consultation today.