The OECD announced the release of feedback received in response to its 10 July 2024 public consultation concerning a draft XML schema and schema user guide, explaining the submission and exchange of standardised Pillar Two global minimum tax “GloBE information returns.”

The comments – representing various stakeholders, including businesses, industry and trade associations, and professional services organisations – can be accessed through the OECD website.

On 10 July 2024, the OECD initiated a public consultation on the Draft User Guide for the GloBE Information Return XML Schema. The Global Anti-Base Erosion (GloBE) Model Rules require the annual filing of a GloBE Information Return (GIR) that provides information on the tax calculations made by an MNE Group under the GloBE Rules. The consultation concluded on 19 August 2024.

Recognising the benefits of the consistent implementation of the GIR filing requirements, and following a public consultation process, in July 2023, the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework) agreed a standardised GIR template to be relied upon by all implementing jurisdictions, as well as an approach for disseminating the contents of the GIR amongst such implementing jurisdictions.

As part of its work on the facilitation of the implementation of the GloBE Model Rules, and with a view to ensuring a consistent, standardised approach to capturing the GIR information, the Inclusive Framework on BEPS is developing a schema in extensible mark-up language (XML) and a corresponding user guide.

The draft document contained a draft version of the GIR XML Schema and User Guide, which is designed to both facilitate domestic GIR filings, wherever appropriate, and to be the technical format for exchanging GIR information between tax administrations.