New Zealand: CbC Reporting DetailsPar Robert Robillard - 2 décembre 2015
This blogpost originally appeared on rbrt.ca.
The OECD BEPS CbC reporting template has officially made its way into New Zealand.
The latest Large Enterprises Update (Number 33: November 2015) released by the New Zealand Inland Revenue indicates:
« New country-by-country reporting requirements
As part of an agreed international tax reform package addressing base erosion and profit shifting, new country-by-country (CbC) reporting requirements have been published by the OECD. We’re currently considering if a law change is required or if the current law is sufficient to implement these new requirements.
The new requirements will apply to corporate groups headquartered in New Zealand with annual consolidated group revenue of EUR750 million (approximately NZ$1.2 billion) and above.
Our initial analysis suggests around 20 New Zealand-headquartered corporate groups will be affected. The first groups impacted are those with 31 December balance dates. We’ll collect data for this group for the 12 months beginning 1 January 2016. For 31 March balance date and 30 June balance date groups, data will need to be collected for the 12 months beginning 1 April 2016 and 1 July 2016 respectively.
Although the first CbC data reporting won’t take place until the 2017 calendar year, the following aggregate information will need to be collected in 2016 and subsequent years for each jurisdiction where impacted groups operate:
- gross revenues (broken down into related party and unrelated party categories)
- profit (loss) before income tax
- income tax paid (on cash basis)
- income tax accrued (current year)
- stated capital
- accumulated earnings
- number of employees
- tangible assets other than cash and cash equivalents.
Impacted groups will also need to list all their entities resident in each jurisdiction, noting the main business activity of each entity.
We’ll be contacting each impacted corporate group individually to ensure they’re well prepared for these new reporting requirements. »
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