COUNTRY BY COUNTRY XML SERVICE

Prepare accurate XML Country-by-Country reports for submission to the relevant tax authorities.

OVERVIEW

With emphasis on transparency and accuracy required by tax authorities including HMRC and the Irish Revenue, you need confidence in the quality and completeness of your report and there can be no omissions. Aside from the penalties companies can face, not to mention reputational damage, costs could be associated in the time spent responding to enquiries related to the figures reported and possibly further tax liabilities should a tax authority successfully challenge your business based on the new information provided.
 

WHAT WE OFFER

We help you prepare accurate XML Country-by-Country (CbCR) reports for submission to the relevant tax authorities while providing a clear report of where all data was sourced from and a PDF containing a human-readable summary of what has been included in the final XML submission.

We take your aggregated data and convert it to XML for you. Our Professional Services team provides you with our Excel template, which has been designed to capture all information required to be reported by the group.

Our tax experts provide a fresh pair of eyes, familiar with what should be included in your CbCR XML, to check the Excel template for any obvious errors or missing information. We then import your data into our CbCR engine, which will validate the data against the latest tax authority rules, such as whether all key information is included and whether it is formatted correctly.

Key benefits

  • Centralises all processes for CbCR reporting to save time and cost around internal resourcing and allow for the redeployment of tax professionals to focus on value add tasks

  • Validates against latest rules, checks data for completeness to ensure quality in order to reduce the risk around submission

  • Can be fed into business reporting to add value to the business and contribute to strategic planning

  • Mitigates risks associated with creating a group report.

Please note, our Country by Country reporting service is also offered as a software solution.

CBCR REPORTING PROCESS:

XML