Transfer pricing documentation and CbCR are provided by the Organization for Economic Cooperation and Development (OECD). These reports benefit and enable development for multinational enterprises (MNE’s) by leaps and bounds.
CbCR will include details of global profit allocations, taxes paid and economic activity indicators in countries in which the multinational organizations operate. This implies that CbCR will have significant transparency and illuminate technical, operational and systemic challenges that any business faces.
In order to compile such a detailed report, there must be an engagement at the Board level. Senior management will have to step in at the early stages itself … Read more