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Country-by-Country Reporting – Compilation of Peer Review Reports (Phase 1)

Inclusive Framework on BEPS: Action 13

image of Country-by-Country Reporting – Compilation of Peer Review Reports (Phase 1)

Under the Action 13 Minimum Standard, jurisdictions have committed to foster tax transparency by requesting the largest multinational enterprise groups (MNE Groups) to provide the global allocation of their income, taxes and other indicators of the location of economic activity. This unprecedented information on MNE Groups’ operations across the world will boost tax authorities’ risk-assessment capabilities. The Action 13 Minimum Standard has been translated into specific terms of reference and a methodology for the peer review process. The peer review of the Action 13 Minimum Standard is proceeding in stages with three annual reviews in 2017, 2018 and 2019. The phased review process follows the phased implementation of Country-by-Country (CbC) Reporting. Each annual peer review process will therefore focus on different aspects of the three key areas under review: the domestic legal and administrative framework, the exchange of information framework, and the confidentiality and appropriate use of CbC reports. This first annual peer review report reflects the outcome of the first review which focused on the domestic legal and administrative framework. It contains the review of 95 jurisdictions which provided legislation or information pertaining to the implementation of CbC Reporting.

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Gabon

1. Consistent with the agreed methodology this first annual peer review covers: (i) the domestic legal and administrative framework, (ii) certain aspects of the exchange of information framework as well as (iii) certain aspects of the confidentiality and appropriate use of CbC reports. Gabon has primary law and is in the process of completing its legal and administrative framework to implement CbC Reporting. CbC requirements will apply for taxable years commencing on or after 1 January 2017. It is recommended that Gabon finalise the domestic legal and administrative framework and the exchange of information framework in relation to CbC requirements as soon as possible. For the moment, based on its primary legislation, Gabon’s implementation of the Action 13 minimum standard meets the terms of reference for the year in review, except that it raises one definitional issue, one timing issue and one substantive issue in relation to its domestic legal and administrative framework. The report contains, therefore three recommendations to address these issues in addition to the general recommendation to finalise the domestic legal and administrative framework. In addition, Gabon should put in place an exchange of information framework as well as measures to ensure appropriate use.

English

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