On 12 November 2020, the South African Revenue Service (SARS) published a notice, which stated that the due date for submitting country-by-country (CbC) report is extended on the basis of some specified person. According to the notice, the deadline will be 28 February 2021 for persons who require to submit the CbC report by 31 December 2020 or 31 January 2021. However, those required to file by 28 February 2021 will now file on 31 March 2021.
On 10 November 2020, the extensions are provided in relation to an update in the CbC reporting system announced by SARS. It includes a change from XML Schema Version 1.0.1 to XML Schema version 2.0 in adherence with OECD guidelines from 1 February 2021. Note that, if an MNE prefers to capture the manual CbC01 form, the eFiling form will be enhanced by SARS to align with schema version 2.0. Both functions will be available from 1 February 2021.
