Significant Global Entities (SGE) that have a Country-by-Country (CbC) reporting obligation for the year ended 31 December 2017 will be aware that the Local file, Master file, and CbC report are due to be lodged by 31 December 2018.
However, due to the year-end holiday period, ATO is providing a lodgment deferral where SGEs will have until 15 January 2019 inclusive to lodge each of the respective statements.
Statements not lodged by the 15th January 2019 may be subject to penalties. Lodgments can only be made electronically via portals using the File Transfer facility or SBR using SBR enabled software. Lodgments via email will not be accepted.
Furthermore, the CbC reporting requirement – effective from income years starting January 1, 2016 – applies to “significant global entities” with annual global income exceeding AUD1bn.
