Lodge Country-by-Country Report (CbC) for significant global entities
Multinationals with global income >EUR 750M must lodge CbC Report annually.
Who must comply
Australian entities in multinational groups with >EUR 750M consolidated global income.
What triggers it
Being a Significant Global Entity.
When due
Within 12 months of end of income year.
Evidence required
CbC Report, Master File, Local File lodged via Online services for business.
Max penalty
Failure-to-lodge penalty + administrative penalties for false statements
Summary
Subdivision 815-E of the ITAA 1997 requires Significant Global Entities (consolidated annual global income >EUR 750M) to lodge a Country-by-Country Report, Master File and Local File with the ATO within 12 months of the end of the income year. Filings are automatically exchanged with foreign tax authorities under MCAA on CbC.
Enforced by
Source legislation
Topics
Source: https://ato.gov.au/businesses-and-organisations/international-tax-for-business/in-detail/country-by-country-reporting. Rules Mate is not a law firm. Always verify against the live regulator source before acting.