The Resource Turning "corporate tax transparency" into a "Big Brother" regime

Turning "corporate tax transparency" into a "Big Brother" regime

Label
Turning "corporate tax transparency" into a "Big Brother" regime
Title
Turning "corporate tax transparency" into a "Big Brother" regime
Subject
Language
eng
Summary
QUESTIONS: Part I: The OECD's master file & local file documentation requirements, unlike the CbC report, are requirements set by each country, even though the OECD has published guidance on what it believes should be included in them. These two reports are not BEPS minimum standards, and therefore are open to modifications or additions by countries to suit their perceived tax needs. At the same time, some governments and many NGOs are pushing for public disclosure of corporate tax information. The combination of these two factors could lead to significant leakage of corporations' tax information. In that regard: 1. If your country requires the preparation of a master file & local file, what information is it requiring in each file that departs from, is in addition to, or is more than the information suggested by the OECD's final report on BEPS Action 13, on the master file and local file? 2. Does your country require the master file, local file, and any supplementary information actually to be filed with the tax authorities, or merely to be retained and produced upon request? 3. Does your country have a position on sharing information in the master file and local file with other tax authorities, and would this include information that departs from or is more than what is indicated in BEPS Action 13's final report? 4. If a taxpayer has prepared a master file according to requirements of its home country, and has prepared a local file in accordance with requirements of your country, what is your country's position on seeking information or documents from the home country that are not required and not contained in the local file prepared for your country? What rights would a taxpayer have to avoid producing that information if an auditor from your country requested it? Part II: In addition to the master file and local file, countries are now exchanging information about rulings, and some are requiring reporting of aggressive tax structures or transactions. 1. If your tax authority believes there is a possibility that an affiliate of a company in your country may have obtained a ruling or may have reported an aggressive position, what authority does your country's tax authority have to try to obtain that information (i) from the company in your country, and (ii) from another tax authority? What rights would a taxpayer have to prevent the tax authority from obtaining that information? 2. What other organizations within your country may your tax authority share taxpayer information with? Are there restrictions on what that information may be used for? Does a taxpayer have rights to restrict that sharing? 3. Where does your country stand on making any information from the CbC report or the master file, local file, and supplemental information public? Do you anticipate that such a requirement will be implemented and if so, what (if any) power do you see a taxpayer having to restrict or prevent what is made public?
Citation source
In: Transfer pricing forum. - Arlington. - Vol. 8 (2017), no. 3 (October) ; 96 p
Geographic coverage
International
Language note
English
http://library.link/vocab/subjectName
  • transfer pricing
  • tax transparency
  • master file
  • local file
  • documentation requirements
  • CbCR
  • taxpayer rights
  • BEPS
Label
Turning "corporate tax transparency" into a "Big Brother" regime
Instantiates
Publication
Label
Turning "corporate tax transparency" into a "Big Brother" regime
Publication

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