CbC Compliance and Reporting

Streamline your CbC Reporting Process

Overview

Simplify your Country-by-Country compliance and automate your Safe Harbor analysis for Global Minimum Tax.

Orbitax CbC Compliance and Reporting is a comprehensive software solution offering automation and simplification for complying with the OECD BEPS Action 13 Country-by-Country Reporting Requirements, as well as automating Safe Harbor Analysis for the OECD Pillar Two Global Minimum Tax.

Track CBC reporting requirements globally.

Generate Country-by-Country Reports and Notifications in the specific XML or other format required by each jurisdiction.

Share Country-by-Country Safe Harbor data directly with our Global Minimum Tax Solution.

Report

Generate Country Specific Reports and Notifications

The Orbitax CbC Compliance and Reporting tool allows you to generate country compliant XML files that are ready to file. Plus, the solution enables exports of your entire CbC filing process, CbC Tables and more in various formats such as PDF, Excel, txt and more for easy sharing with other stakeholders in your company, with your advisors and outputs to your ESG reports.

You can easily create secondary filings of your CbC report for countries where the tax authority does not have Competent Authority Agreements (CAAs) for sharing in a matter of minutes.

Comply

Instantly check CbC requirements in the jurisdictions where you operate

Compliance with BEPS Action 13 has never been easier, with the Orbitax CbC Compliance and Reporting tool you get access to our compliance module that allows you to get detailed information on all your entities and the jurisdictions you operate in. The compliance report is automatically generated to allow you to quickly check which of your jurisdictions require CbC Reports, available surrogates, local filing requirements, notification requirements, deadlines, filing templates and more.

These features combined with the detailed analytics gives your tax department all the tools necessary to improve efficiency and effectiveness.

Load Data

Replicable Data Loading Process

With the introduction of multiple new compliance requirements such as Country-by -Country Reporting, Global Minimum Tax, US IFRS and GILTI calculations and more; it can be a difficult task to get your data loaded for all of these compliance requirements.

The Orbitax International Tax Platform is designed in a way to offer a replicable data loading process that draws from common data inputs shared with other solutions such as Global Minimum Tax and the International Tax Calculator (IFRS & GILTI calculations) which in turn increases the reliability, predictability and accuracy of your reporting by using a single source of truth for all your data.

Connect

APIs to directly connect to external systems

The Orbitax CbC Compliance and Reporting tool comes with powerful collaboration and inclusive tools available on the International Tax Platform.

Connect to other systems and bring in data from your existing trial balances, accounts information and more to calculate and generate the relevant CbC tables in a streamlined process.

Orbitax Connect comes with 90 out-of-the-box connections including ERP Systems and databases such as ONESOURCE, Oracle, SAP, SQL, JD Edwards, Workday, and Netsuite. Connections to other systems can be custom built based on your company needs and department processes.

The Orbitax CbC Compliance and Reporting Solution is also integrated with the Orbitax Global Minimum Tax Solution to push and pull safe harbor data, thus ensuring consistency and accuracy between the CBC Reports and the GMT calculations.

Automate

Automate Repeatable Tasks to Save Time

Global companies often have data and resources scattered all over the world in different offices and departments. This brings a new challenge to collect data when getting ready to complete filings. The Orbitax Executable Actions Tool (E.A.T.) offers a unique automation solution that allows repeatable steps in the filing process to be automated.

E.A.T. allows repeatable processes within the International Tax Platform to be automated which reduces time and makes navigating through the platform so easy that even new users can jump in and start using the solution. It comes with default workflows which can help with everything from collecting / confirming data from remote providers and reviewers to even automating the entire process from data gathering to filing. With E.A.T you can also create custom workflows which are tailored to your specific processes along with assigning tasks to the relevant people.

Customer Benefits

Key Features	Benefits for our clients
Comprehensive software solution for complying with OECD BEPS Action 13 Reporting Requirements.	Ensures businesses meet global tax authority requirements.
Automates and simplifies the compliance process.	Enhances efficiency for multinational organizations.
Tracks reporting requirements globally and generates Country-by-Country Reports and Notifications in required electronic formats.	Avoids late, missed, incomplete, and inaccurate filings.
Assists with electronically filed Local and Master File requirements.	Provides a documented trail for compliance efforts during audits or inquiries.
Generates necessary Appendices for written Local File and Master Files.	Simplifies the preparation process for essential components of reports.
Facilitates accurate and timely compliance.	Ensures consistency in CbCR process across multiple jurisdictions.
Provides up-to-date and tailored global BEPS research.	Keeps businesses informed on local legislative rules, timings, and requirements.
Tracks due dates for CbC reports, notifications, Transfer Pricing Master Files, and Local Files.	Helps businesses stay organized and meet deadlines.
Proactively manages CbC risk with built-in analytics.	Identifies potential tax risk indicators and allows for proactive risk management.
Streamlines CbC reporting by automatically allocating tax structures and jurisdictional rules.	Maintains quality control and reduces manual effort.
Generates up-to-date XML files ready for filing.	Simplifies the reporting process and ensures compliance with filing requirements.
Allows exports of CbC filing process, CbC Tables, and more in various formats.	Provides flexibility in sharing and analyzing data.
Uses proprietary Data Extractor to bring in data from existing trial balances, accounts information, and ERP systems.	Streamlines data collection and calculation process.
Enables direct submission of filings to tax authorities and creation of secondary filings.	Simplifies filing process and ensures compliance with multiple jurisdictions.
Provides access to compliance module with detailed information on entities and jurisdictions.	Improves efficiency and effectiveness of tax department.
Includes collaboration and inclusive tools such as a drive, task manager, and contacts section.	Facilitates collaboration with internal and external stakeholders.
Integrated with smart dataset for interchange of CbC data with other Orbitax solutions.	Enhances integration and data sharing capabilities.
SOC 1 and SOC 2 compliant	Assures that your information is secure.

Country-by-Country Glossary

Abbreviation	Description
CAA	A CAA or Competent Authority Agreement is a bilateral or multilateral agreement between countries, facilitating the automatic exchange of CbC reports between tax authorities.
CbC Filings	CbC filings are the filings of Country-by-country reports.
CbCr	CbCr or Country-by-Country Reporting are the rules based on Action 13 of the OECD's Base Erosion and Profit Shifting (BEPS) Plan.
CbCr Notification	A CBCr notification is a mandatory notification about the reporting entity before the end of the reporting fiscal year.
CbCr Report	The Country-by-Country report includes visibility into revenue, income, tax paid and accrued, employment, capital, retained earnings, tangible assets and activities.
CbC Reporting Entity	A CBC Reporting Entity is a CBC reporting parent or a member of a CBC reporting group with annual revenue for the preceding annual accounting period of EUR 750 million.
CbC XML Schema	A standardised electronic format for the exchange of CbC Reports between jurisdictions published by the OECD.
Surrogate	A surrogate for CBCr purposes is a substitute reporting entity filing on behalf of the ultimate parent.
UPE	The UPE or “Ultimate Parent Entity” is typically the entity that prepares the Consolidated Financial Statements under accounting principles.

Powerful Collaboration Tools

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Dashboard & Analytics

Get an overview of various data elements being maintained on the Orbitax platform including footprint data and data from the Orbitax Tax Rules & Rates Database. Powered by Microsoft Power BI.

Contacts & Chat

Import your list of contacts into Orbitax, assign roles and permissions, and chat with individuals or create custom groups to discuss data population, filing obligations and anything in between.

Video Meetings

Use the built-in Orbitax Meet feature to start or schedule a video meeting with members from your Orbitax Contacts list. Arrange meetings, share your screen and save meeting recordings to the Orbitax Drive.

Document Repository

Secure document storage and management for all your tax documentation, files and meeting notes. Boost your file storage premium features available with the Orbitax Drive.

Task Manager

Assign tasks and timelines to various stakeholders, including checklists, attachments, comments, custom alerts and more. Monitor and manage all tasks from the powerful Task Manager dashboard.

Activity Tracker

Automatically monitors and displays all activity across your Orbitax projects, including when users log in, change/upload data, along with timestamps and ability to generate comprehesive audit reports.

Powerful Tax Solutions

Tax Rules Engine

Collaboration Tools