Annual country-by-country reporting notification is removed

After the release of The Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) (Amendment) Regulations 2023, starting from 26th July 2023, UK entities are no longer required to submit annual notifications to HMRC, specifying the parent entity within a multinational... Read more

22 Sep 2023

By Qi He

After the release of The Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) (Amendment) Regulations 2023, starting from 26^th July 2023, UK entities are no longer required to submit annual notifications to HMRC, specifying the parent entity within a multinational enterprise (MNE) responsible for filing the CbC report.

HMRC has concluded that these notifications no longer offer value. Instead, the resources formerly assigned to handling these notifications will now be reallocated to addressing enquiries regarding country-by-country (CbC) reporting and improving the overall quality of CbC reporting data.

This change doesn’t affect the requirement for a UK tax strategy report to be published. For each financial year, the UK subsidiary of a Multi-National Enterprise (MNE) has to publish its own UK tax strategy if it’s not covered by a published strategy at a higher level as a part of a larger report.

If you need assistance in drafting the UK tax strategy report, please contact me or our tax partner Clair Dart.

国别报告通知递交于2023年取消

从2023年7月26日起，英国的企业不再有义务向英国税务部门（HMRC）提供每年的国别报告通知，指明他们属于跨国企业（MNE）的国家。

HMRC确定这些通知不再具有实用性，相反，先前用于处理这些通知的资源现在将被重新分配用于回答有关国别报告（CbC）的问题以及提高CbC报告数据的质量。

这一变化不会影响英国子公司的税收策略报告发布要求。每个财政年度，跨国企业（MNE）的英国子公司必须在没有在更高层次的报告中包含的情况下发布自己的英国税收策略。

如果您需要协助起草英国税收策略报告，请联系我或税务合伙人Clair Dart。