The OECD has released an Update as of July 18, 2017 to the Guidance on Implementation of Country-by-Country Reporting: BEPS Action 13.
The update addresses two issues:
- How to treat an entity owned by two or more MNE Groups: The New Guidance looks to follow the applicable accounting rules in whether to consolidate an entity into the financial consolidation of the MNE or not. If applicable accounting rules provide for consolidation, then the entity should als…