On 15 August 2017, HM Revenue & Customs (HMRC) released guidance confirming the format and method of filing country-by-country (CbC) reports that are due in the UK. The UK follows the CbC reporting requirements of the Organisation for Economic Co-operation and Development (OECD).
HM Revenue and Customs (HMRC) have confirmed that the required format for country-by-country reporting will be via an XML (extensible markup language) schema, to ensure international consistency.
For MNE groups that are US headquartered voluntarily filing in the United States (US) for a period covering a reporting period that begins before 30 June 2016 must make the additional notification in the UK to confirm that the CbC report has been filed in the US to discharge the requirement to locally file a CbC report in the UK.
