The Austrian Ministry of Finance recently answered questions in areas of doubt regarding the procedure of country-by-country reporting (CbCR).
The CbCR obligations have been imposed in Austria for fiscal years starting from 1 January 2016. In general, an MNE group has to provide such a report if the total turnover equalled at least EUR 750 million in the preceding fiscal year. The company obliged to submit the CbCR is: (i) the top tier company that has its legal seat in Austria; or (ii) an Austrian company assuming the obligation on behalf of the foreign top tier company for example if such company is not bound to furnish a report in its state of residence. Obviously, the latter constellation will not be prevalent in structures involving an EU-top tier company, as EU Member States will have implemented the CbCR and exchange of information requirements similarly. However, the assumption of reporting obligations bears special relevance for Austrian entities forming part of a group with a non-EU top tier company.
In that context, the Austrian Ministry of Finance has upon request clarified certain aspects of the CbCR obligations, including the case of voluntary CbCR abroad and the case of fiscal years in an MNE group not corresponding to the calendar year.
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