ANALYSIS OF INTERNATIONAL RECOMMENDATIONS ON THE USE OF COUNTRY-BY-COUNTRY REPORTING AS AN INFORMATION SOURCE FOR TAX RISKS ASSESSMENT - Научное сообщество
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ANALYSIS OF INTERNATIONAL RECOMMENDATIONS ON THE USE OF COUNTRY-BY-COUNTRY REPORTING AS AN INFORMATION SOURCE FOR TAX RISKS ASSESSMENT

04.04.2022 14:27

[2. Экономические науки]

Автор: Nikolenko Larysa, Ph.D., associate professor, Kyiv National Economic University named after Vadym Hetman, Kyiv; Kryshtopa Iryna, Sc.D., professor, Kyiv National Economic University named after Vadym Hetman, Kyiv


The next step after the first country-by-country reports exchange is to find the way to ensure their effective usage by tax administrations for the assessments of risks connected with BEPS. The outlined direction of work acquires special significance in view of the use of information from these reports during the implementation of a number of projects of OECD Forum on Tax Administration, among which a special role belongs to International Compliance Assurance Programme (ICAP), which is aimed at providing a multilateral risk assessment of large international groups of companies and Comparative Risk Assessment Initiative (CoRA), which is aimed at effective assessment of overall international risk and promote consistency in interpretation of potential indicators of presence or absence of specific risks. Within the frames of these projects, country-by-country reports are used by tax administrations for identification of those areas, where the tax risk is associated with multinational group of companies is low, which in turn will allow to focus resources on those issues that require additional attention. 

Considering this fact, in September 2017 the ОЕСD published a document “Country-by-Country Reporting: Handbook on Effective Tax Risk Assessment” [1]. The main goal of this document is help to tax administrations in terms of effective use of country-by-country reports. This document contains seven sections and three appendices. The annotated content of this document is clearly presented in Table 1.

Table 1

Key provisions of the OECD document “Country-by-Country Reporting: Handbook on Effective Tax Risk Assessment”





Source: developed by the authors basing on [1]

Considering the fact of Ukraine's accession to the OECD Enhanced Cooperation Program and its commitment to implement the “minimum package” of the BEPS plan, as well as basing on the analysis of international recommendations on the use of country-by-country reporting as an information source for tax risk assessment, it is feasible to develop an approach to the implementation of key provisions of the OECD document “Country-by-Country Reporting: Handbook on Effective Tax Risk Assessment” in the domestic legal framework. This will facilitate the process of harmonization of the last one with the requirements of the OECD in terms of introduction of automated exchange of country-by-country reports.

References

1. Country-by-Country Reporting: Handbook on Effective Tax Risk Assessment [Електронний ресурс] // Режим доступу: https://www.oecd.org/tax/beps/country-by-country-reporting-handbook-on-effective-tax-risk-assessment.pdf







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