'CbC' means 'country-by-country' reporting in relation to tax.
Taking the UK as an example, where CbC reporting has been implemented with effect from 2016:
UK CbC reporting applies to all UK-headquartered multinationals and UK subsidiaries of foreign-owned multinationals.
These companies are required to provide the UK tax authorities (HMRC) with information about their global activities, profits and taxes annually for each tax jurisdiction in which they do business.
"HMRC thinks [CbC reporting] will influence behaviour and not just disclosure."
Paul Johns, director treasury and tax, ISG plc.
- Base erosion and profit shifting
- Business in Europe: Framework for Income Taxation
- Corporation Tax
- Diverted profits tax
- Double taxation
- Fixed ratio method
- His Majesty's Revenue & Customs (HMRC)
- Internal Revenue Service (IRS)
- Multinational corporation/company
- Tax avoidance
- Transfer pricing
- Worldwide interest cap