The ATO noted that the deferral accommodates the year-end holiday period. Entities that do not lodge by the extended deadline may face penalties.
The Australian Taxation Office has extended the deadline for Country-by-Country (CbC) Reporting Entities to submit their transfer pricing documentation for reporting periods ending on 31 December 2024.
Under the extension, affected entities now have until 30 January 2026 to lodge their local file, master file, and CbC report. This revised deadline also applies to entities with replacement reporting periods ending on the same date.
The ATO noted that the deferral accommodates the year-end holiday period. Entities that do not lodge by the extended deadline may face penalties.
Public CbC reporting requires certain large multinational enterprises to give an annual Public CbC report to ATO, which is then published on an Australian Government website.
Depending on the relevant jurisdiction, this information must be reported either on a CbC basis or in aggregated form. The global parent entity holds the reporting obligation, not the Australian member. This entity is known as the Public CbC reporting parent.
Reporting periods begin on 1 July 2024. For a Public CBC reporting parent with a reporting period end of 30 June, this will be from 1 July 2024. Reports are due within 12 months of the end of the reporting period. If a Public CBC reporting parent’s reporting period doesn’t end on 30 June, reporting will apply from the start of the first period beginning after 1 July 2024. For example, a reporting period from 1 April to 31 March will first be subject to reporting from 1 April 2025, with the report due by 31 March 2027.
