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New country-by-country reporting requirements

New country-by-country (CbC) reporting requirements have been published by the OECD as part of an agreed international tax reform package addressing base erosion and profit shifting. These new requirements apply to corporate groups headquartered in New Zealand with annual consolidated group revenue of over EUR 750 million (approximately $1.3 billion).

Our initial population analysis suggests that around 20 New Zealand-headquartered corporate groups are affected. Groups with 31 December balance dates are impacted first, with data to be collected for the 12 months beginning 1 January 2016. For 31 March balance date and 30 June balance date groups, data needs to be collected for the 12 months beginning 1 April 2016 and 1 July 2016 respectively.

First reporting of CbC data will take place during the 2017 calendar year. The following aggregate information will need to be collected for 2016 and subsequent years for each jurisdiction in which impacted groups operate:

  • gross revenues (broken down into related party and unrelated party categories)
  • profit (loss) before income tax
  • income tax paid (on cash basis)
  • income tax accrued (current year)
  • stated capital
  • accumulated earnings
  • number of employees, and
  • tangible assets other than cash and cash equivalents.

In addition, impacted groups will need to list all their entities resident in each jurisdiction, noting also the main business activity of each entity.

Each year, we will contact the New Zealand-headquartered corporate groups that are required to file the country-by-country (CbC) report and provide them with the required templates and guidance notes (including both general and specific instructions) published by the OECD.

Download the Country by country report (IR1032)
PDF | 771kb | 3 pages

For more information or queries about country-by-country reporting, please email .