The Australian Taxation Office (ATO) has revised its guidance on the public country-by-country (CbC) reporting regime focusing on public CbC parent registration requirements on 11 December 2024.

Australia’s public CbC reporting is a reporting regime which requires certain large multinational enterprises to publish selected tax information. The information must be reported either on a CbC basis or on an aggregated basis. The regime applies for reporting periods commencing from 1 July 2024.

Public CbC reporting requires disclosures about:

  • the revenues, profits and income taxes of the global group
  • the activities of the global group
  • an entity’s international related party dealings.

Public CbC reporting obligations

All public CbC reporting parents are encouraged to register with the ATO as this simplifies:

  • the giving of the Public CbC report to the ATO
  • requesting an extension of time to provide the Public CbC report
  • requesting an exemption from reporting obligations.

The registration form and instructions are under development, and will be made available in 2025.

Correction of errors

If a public CbC reporting parent becomes aware of a material error contained in any of the information that has been published, the CbC reporting parent must correct the error by giving corrected information to the Commissioner in the approved form. This is required no later than 28 days after the entity becomes aware of the material error. Penalties apply for non-compliance.

Extension of time to provide the public CbC report

The public CbC report is due within 12 months after the end of the relevant reporting period. For example, for the reporting period ending 30 June 2025, the public CbC report is due by 30 June 2026.

A public CbC reporting parent may apply to the Commissioner for an extension of time to provide the Public CbC report. A public CbC reporting parent does not have to register to request an extension of time, but consideration and processing of the request may be delayed if it is not registered.

Guidance on extension of time requests will be made available in 2025.