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  • Country-by-country reporting entities

    The revised significant global entity (SGE) definition also includes changes to country-by-country (CBC) reporting requirements. CBC reporting entities are a subset of SGEs that are required to provide CBC reports and general purpose financial statements (GPFS) to us if they have not been filed with the Australian Securities & Investments Commission (ASIC).

    We focus on CBC reporting entities that:

    • meet the definition but do not identify as such on their tax returns
    • fail to lodge relevant and complete documentation as required.

    Some SGEs may still have CBC and GPFS reporting obligations under the law that applied before the amendments mentioned above. Entities should check their status to ensure that any returns that may be due are provided as required.

    Last modified: 09 May 2022QC 69449